Todd Harrison: The Stock Market and Opportunities in Cannabis

By Todd Harrison  MAR 24, 2014 12:03 PM

Taking stock on a sloppy Monday,


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Over the last few weeks, we spent our time mapping the stock market road map through a technical lens. While technical analysis isn't a catalyst in and of itself, it provides a context for risk when juxtaposed against the fundamental, structural, and psychological metrics.

As we enter a fresh five-session set, many of those levels have come into play.

The price action today has a distinct "S's over N's" flavor, or S&P (INDEXSP:.INX) outperformance of Nasdaq-100 (INDEXNASDAQ:NDX), due in large part to the supply of biotech and high-beta tech.  IBB (NADSAQ:IBB) 260 and NDX 3640 were levels we recently flagged; both gave way this morning and opened the door for more supply.

The biggest level on the board today is S&P 1850 which, if it holds, "works" to S&P 1960; that zone is getting tested as I type, although the close is always more important than the intraday price action. 

Other areas of note include BKX (INDEXSP:BKX) 71.50 and TRAN (INDEXDJX:DJT) 7600, which would confirm the bullish price projection in the S&P, as well as Nikkei (INDEXNIKKEI:NI225) 14K, Shanghai (SHA:000001) 1985, and DAX (INDEXDB:DAX) 9K overseas.

Cannabis Revisited

Having just hopped off the phone with the BBC regarding opportunities in the cannabis space, now might be a good time to crystallize my thought process. My assumption is that the interview request germinated from my recent interview on Yahoo Finance, which garnered some attention in the social sphere. 

In the interest of brevity, I'll top-line the vibes below:

Random Thoughts:


Twitter: @todd_harrison

No positions in stocks mentioned.

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at

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