Cannabis Calling - Adding More MSOX
War on pot no longer favors politicians & drug war profiteers?
Another of America’s military misadventures may finally be coming to an end - the war on pot - as it no longer favors politicians (both “sides”) and the very long list of Drug War profiteers have greener battlefields to focus on.
Zero Hedge: Half Of Americans Live In States Where Weed Is Legal, Health Officials Push To Ease Restrictions
A top official at the Department of Health and Human Services wrote Drug Enforcement Agency Administrator Anne Milgram calling for marijuana to be reclassified as a Schedule III drug under the Controlled Substances Act, according to a letter dated Aug. 29 seen by Bloomberg News.
With the health department’s recommendation in hand, the DEA must now conduct its own review process before coming to a decision.
Should the DEA reclassify marijuana, it would mark a critical shift away from its status as a Schedule I substance, which includes drugs with high abuse risk, like heroin, LSD and ecstasy.
The Senate Majority Leader issued this statement in response:
My last “buy” signal on the sector was 2 months ago:
MSOX i3 m1, turning long term bullish
Read an explanation of my scoring system by clicking here.
MSOX closed today at $3.31
Via slow accumulation I’ve lowered the average cost on my position to $6.72
I’ll scale up to a double position when it trades again above $4.50
Not planning on a 3rd position for the time being.
Still true:
When a sector is so beaten down, with so many having abandoned it in frustration and losses, the upside is exceptional and often exponential.
Political winds slowly blowing in a favorable direction, though not without hiccups.
Patience, process, and prudence are paramount.
Seven weeks ago it hadn’t yet traded above $4.50 and my buy line was lowered:
MSOX i3 m2, still turning long term bullish
I’ll scale up to a double position tomorrow.
That entry was at $4.03, lowering my average cost to $5.38
MSOX closed today at $3.20
Score has since improved to i3, m3.
I’m opening an additional MSOX position at the morning’s open.
Still very true and pertinent:
When a sector is so beaten down, with so many having abandoned it in frustration and losses, the upside is exceptional and often exponential.
Political winds slowly blowing in a favorable direction, though not without hiccups.
Patience, process, and prudence are paramount.
Bearish, via Reuters: Record high exposure to biggest tech stocks
"Hedge funds continue to embrace mega-cap tech & the AI theme," Goldman Sachs said in a note sent to restricted group of clients obtained by Reuters
OilPrice.com: Saudi Arabia Weighs China Bid To Build Nuclear Power Plant
Saudi Arabia is considering a bid from a Chinese state firm to build a nuclear power plant, which could give the Kingdom leverage in possible talks for U.S. assistance for establishing a civil nuclear industry, The Wall Street Journal reported on Friday, quoting Saudi officials with knowledge of the matter.
Saudi Arabia has been actively seeking help with expertise in nuclear energy to develop its own civil nuclear generation capacity. The U.S. has been an obvious first choice among potential partners, but Washington has taken a cautious approach. The United States has made it clear that it would only help Riyadh develop nuclear generation capabilities if any agreement includes preventing the enrichment of uranium or reprocessing of plutonium from the reactors, to prevent the weaponization of nuclear power.
Now Saudi Arabia is evaluating a bid from China National Nuclear Corporation (CNNC) to build a nuclear power plant in an Eastern Province of Saudi Arabia, close to the border with Qatar and the United Arab Emirates (UAE), the Saudi officials told the Journal.
CGTN: China installs core module of world's first commercial small nuclear reactor
The core module of China's Linglong One, the world's first commercial small modular reactor (SMR), was successfully installed on Thursday in south China's Hainan Province, marking a milestone node of the SMR's installation.
Jounalnow.com: Nuclear Power Is Key To North Carolina’s Clean-Energy Future
The state's goals demonstrate the central role nuclear energy must take to balance affordability and reliability with clean-energy progress while creating jobs and providing local economic benefits.