Posted April 20, 2018
By Ray Blanco
U.S. Pot Gets Presidential Endorsement
Pot just got a powerful ally.
Last week, President Donald Trump vowed to Colorado Sen. Cory Gardner that his administration wouldnt interfere with state-legal marijuana in Colorado.
Thats a stark contrast to the position of Trumps attorney general, Jeff Sessions, who has in the past said things like:
This drug is dangerous. You cannot play with it. Its not funny.
Good people dont smoke marijuana.
And, infamously, I thought those guys [the Ku Klux Klan] were OK until I learned they smoked pot.
Theres no question of where Sessions stands when it comes to marijuana.
But now it looks like hes going to be overruled by his boss.
Ive said in the past that the federal rules surrounding cannabis are terrible for American businesses. Its the reason why Canadian firms are dominating the industry and its why we have so many Canada-based stocks in our portfolio.
Thats a message thats sure to resonate with President Trump.
Likewise, as I shared with you back in January, legalizing pot could be low-hanging fruit for a Trump administration in search of policies that have high levels of bipartisan public support.
Trump hasnt been shy about squashing Sessions when hes felt the need to do so. And between the vastly negative public outcry surrounding the AGs policy shift, the billions in tax money and a million new jobs, its not hard to imagine it happening again.
Pot could be Donald Trumps silver bullet in 2018.
This is a major development for the legal cannabis market.
In reaction to the news, the U.S. Marijuana index soared 15% this week. The chart is exactly what we want to see.
This is speculation betting, of course. As many U.S. pot investments are right now. But the message from Washington is clear, and its only going to be good for pot stocks.
Yes, things are still amorphous. Nothings on paper yet. And a lot needs to happen before U.S. pot companies can operate on equal footing with their Canadian counterparts.
That said, the pot race is on.
As things play out, the suggested strategy is to trade opportunistically when high-probability setups present themselves.
As the tide continues to turn it should help push more pot stocks from the wait and see status into buy mode. As it does Ill be right back here with how to play them.
For Technology Profits Daily,
Ray BlancoChief Technology Expert, Technology Profits Daily