[marry123]

Hi Isa,
Seems the marijuana stocks are perking up. CRON is starting to look good if volume comes in and price breaks above the SPX price line.
I  was wondering whether one needs to see price break above the $9 level (in addition to have increasing volume come in and price move above the SPX price line)?

As always, I very much appreciate your input.

It's just moving into early Stage 1, after declining for more than a year and losing more than 80% from its peak. So any strong moves within Stage 1 will likely be capped by strong resistance from a lot of bag holders still hoping to claw back their loses. But you can often get a strong short squeeze in the early part of Stage 1, so very short term traders can make some good gains on those moves. But it's too early from Stage Analysis perspective, as this would be considered bottom fishing instead of buying high and selling higher that the method aims for.

Thanks Isa.  Could you please clarify the part about buying high and selling higher  as in Weinstein's book he has examples of buying stocks that have had large declines after they break from proper bases (eg page 33 Bethlehem Steel which fell from 22 to around 5 and was then a buy at just over 9 based on it breaking above its resistance of its stage 1 base). So would  a break above 9 not be a proper buy point for CRON breaking out of the stage 1 base? CRON actually looks very similar to Bethlehem steel unless I am mistaken (with similar drops from around 22).