05Mar10:37 amEST

Flat as We Head Towards Pancake Day

In light of yesterday morning's aggressive downside reversal in tech and biotech, combined with CRM's milquetoast reaction to earnings, I flattened out and am still of the view that many key growth stocks consolidate in the near-term. (Incidentally, and speaking of "flat," National Pancake Day is held annually on the second Tuesday in March, free pancakes are offered to customers in exchange for a donation to charity. IHOP Free Pancake Day 2019 will be held on March 12, 2019). 

On the marijuana front, ACB is zooming higher off some positive comments from Cowen, with CRON and PYX also on my long radar. 

Cronos, in particular, has my eye here. On the CRON weekly chart, below, beyond having the Altria investment note the multi-week high, tight bull flag in play. This is often a sound continuation pattern of the prior rally which has a fairly high probability of resolving higher yet. I am looking for a push over $22.30, then $23, to get the ball rolling. 

Stock Market Recap 03/04/19 ... There's a Lot Going on Here


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