Canadian CANNAINVESTOR Magazine July / August 2017 - Page 182

Horizon’s Medical Marijuana ETF (TSX:HMMJ)

When Horizons came out with their medical marijuana ETF I made plenty jokes about “well this is the top”. Little did I know that it essentially ended up being just that. I was never a fan of this ETF because I thought it would bring even more correlation in the manner in which the cannabis stocks trade to a sector that already had enough of that. Regardless, Horizons doesn’t appear to care about my opinion. The ETF is finally showing signs pointing to a possible reversal which would obviously be a huge positive to some of our Canadian potstocks given they make up some of the ETF. As I noted in the comments on the chart above, a higher low is in place, now we need to take out the last high around $8.75 to start to form an intermediate uptrend