Democrats and Republicans divided control of the House and Senate . . .
And marijuana stocks proved to be the ONLY big winners of the midterm elections.
On Tuesday, record numbers of Americans showed up at the polls. Voters in three states passed measures approving legal cannabis.
Michigan: 56% of voters said YES to recreational cannabis. The state is already the No. 2 market for medical marijuana. And this referendum allows adults age 21+ to use cannabis for recreational purposes. Commercial production and retail stores are the next step for the state.
Missouri: 65% of voters approved a medical marijuana initiative called Amendment 2. This will create a marketplace for cultivating and distributing cannabis to medical patients with a doctor’s prescription.
Utah: The state becomes one of 31 states to legalize medical marijuana. The measure squeaked by with 53% of voters in favor of legalization. The referendum provides a list of illnesses for which a doctor can prescribe cannabis.
There are now 10 states – plus the District of Columbia – that have legalized cannabis for recreational use. Plus, 31 states allow medical marijuana.
New York and Illinois are expected to be the next states to legalize cannabis.
Plus, Colorado’s new Democratic governor says he supports a bill that would allow publicly traded “pot stocks” to hold cannabis sales licenses.
It’s huge positive news for the sector. It paves the way for federal legalization by 2020. And it’s going to spark a new bull market.
Now, you could just “BUY and HOLD” shares of regular old marijuana stocks . . .
It’s a super-simple way to 1) earn bigger profits, 2) multiply your capital, and 3) limit your downside risk.
Pot stocks have been volatile in the last three months. The Horizons Marijuana ETF (TSE: HMMJ) tracks the sector.
It jumped 85% from mid-August to mid-October. And then plunged 30% in a couple weeks. As you’ll see in the following chart, marijuana stocks are now staging an impressive comeback.
There’s an easy way to profit from this “pot stock” volatility. Click here for my LIVE training session.
The index has broken above the 200-day moving average. And it’s within striking distance of breaking through the 50-day moving average. A break through the 50-day would be a bullish technical signal for the index.
Want to know the best way to trade in this market? This LIVE webinar reveals urgent trading details.
You’re leaving money on the table if you’re just “BUYING & HOLDING” stocks.
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