In the coming years, marijuana will create a lot of millionaires.

One of them may be you. But only those who put in the effort, gain the required knowledge and exercise patience to invest correctly over a long period will succeed. Those tempted by get-rich-quick schemes will lose their hard-earned money.

For investors, the marijuana industry reached a milestone when the first marijuana company, Canada’s Tilray TLRY, did a U.S.-only listing in June and reported its first earnings as a public company after the stock market closed Tuesday. The biggest takeaway from the Tilray conference call is that the thing to potentially make you a marijuana millionaire may be a lot closer than you think. Before I discuss this big thing, let us build the background that investors need with the help of a chart.


Please click here for an annotated chart of Tilray’s stock. Please note the following:

• At this time, it is all about the sentiment, and this is where the chart becomes helpful. For those who disagree, please answer this question: “How can Tilray, which reported $9.7 million in sales, have a multibillion-dollar valuation?”

• The best way for investors to figure out what is really going on with sentiment is to look at net supply and demand in real time. The most sensitive indicator to measure supply demand in real time is the VUD indicator.

• The VUD indicator is shown on the chart. When the VUD indicator is green, it indicates net buying. When the VUD indicator is orange, it indicates net selling.

• The chart shows the breakout in Tilray’s stock and the subsequent big rise in the stock price.

• The chart shows that for most of the rise in the stock price, the VUD indicator was green, indicating strong net buying.

• The chart shows that prior to the earnings, the VUD indicator turned orange, indicating strong net selling.

• The chart marks the time when Tilray earnings were released.

• The VUD indicator turned positive immediately after the earnings were released.

• The chart marks the time when the conference call started.

• The chart shows that the VUD indicator became more positive when the conference call started, indicating more buying came in.

• The chart shows the resistance zone.

• Tilray’s stock price will have to rise above this resistance zone on heavy volume for a couple of days for the stock to take the next major “up” leg.

• If Tilray’s stock fails to break through the resistance zone, it may pull back to the support zone shown on the chart.

Gain an edge

One of the major problems that investors face these days is that everyone has the same information if they use traditional fundament and technical analysis. Such traditional analysis no longer provides an edge unless you are really good at it….Read more at MarketWatch.

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