Horizons Marijuana Life Sciences ETF (HMMJ)

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Insights: Widespread sentiment slump suggests stock rally may stumble

In the latest edition of Canadian Insider Insights, we assess what slumping insider sentiment means for the broad market as well as pot stocks. Importantly, as we head into summer, we expect stock selection will play an outsized role in delivering performance for investors. Meanwhile, our insider of the week comes from the junior mining group where many eyes are focused on the James Bay area in Quebec.

Our April 15th Insider of the Week

Will this insider and his team deliver the next big mining play? Click here to read more in our latest free-to-air newsletter.

Upbeat Canadian insiders

Starting in the second segment of his latest interview with Jim Goddard, INK CEO Ted Dixon gives an overview of the outlook for Canadian stocks drawing on the most recent Insights weekly newsletter. Broadly speaking, insiders remain upbeat about their prospects going forward, particularly in the oil patch where stocks have undergone a correction to reflect commodity pricing troubles.

He does, however, highlight a warning sign.

Energy poised to assume Canadian market leadership from pot stocks

In my Valentine's Day interview with Jim Goddard, I make the case that Energy stocks led by Cenovus (CVE) are likely going to start pulling their weight in the Canadian market. That would be a welcome development for Canadian investors because our indicators are also suggesting that the recent marijuana stock rally is in the final stages. Based on American insider activity, I also make an out-of-consensus call on bond yields.

Will big US pharma swamp big Canadian pot growers?

As we wrote in an INK Research subscriber post on February 12th, the widespread belief that the cannabis industry is a disruptive force in the medical and consumer markets may well be in the process of playing out right now. The stakes are clearly high, especially if John Rubino from DollarCollapse.com is right.

 Rubino: the pot legalization tide has turned in the United States.

He is firmly in the camp with those who think legalization is not that far off in the United States:

Double trouble for cannabis stocks? Double down on REITs?

Last Wednesday in an a post, we noted that our 30-day Pharmaceuticals Indicator had peaked on Tuesday. As it turned out, the indicator has since moved back up and peaked again. This adds an extra degree of uncertainty to the prospect that a base for the group may have been established. Once the 30-day indicator moves below the 60-day indicator we will have a bit more confidence that investor anxiety has settled down in the space.

 

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