Investing in cannabis requires a split personality.

Everyone thinks they're early. Dan McDermitt has been trading the sector for 15 years — through the Canadian boom, the Biden promise, and the slow bleed that followed. His take: if you've been through multiple pump-and-dump cycles, you're not early anymore. You're just still here.

This is a masterclass in separating trader psychology from fundamental conviction. Dan explains why he keeps a small position just to stay seated, why he already knows he'll sell early on the next catalyst, and why the moment everybody's talking about cannabis on Wall Street Bets is the moment you size up — not before.

This week we sit down with Dan McDermitt:

The "I'm early" delusion
Why traders sell early
Catalyst stacking thesis
MSOS mechanics breakdown

Chapters

00:00 The Catalyst Dilemma in Cannabis

03:03 Trading Strategies and Market Positioning

05:48 Understanding Trader vs. Fundamentalist Perspectives

08:46 The Unique Nature of MSOS Trading

11:51 Market Dynamics and Trading Psychology

15:03 The Role of Uplisting and Rescheduling

18:08 Long-Term Perspectives in a Volatile Market

21:04 Risk Management and Trading Mindset

23:51 The Impact of AI on Trading Strategies

Summary

In this conversation, Bryan Fields and Dan McDermitt discuss the current state of the cannabis market, focusing on the challenges and opportunities within the sector. They explore the impact of potential rescheduling and uplisting on cannabis stocks, the differences between trading and fundamental analysis, and the unique trading dynamics of MSOS. Dan shares insights on risk management, trading psychology, and the influence of AI on trading strategies, emphasizing the importance of adapting to market conditions while maintaining a disciplined approach.

Guest Links:

https://x.com/ChartGuys
https://www.instagram.com/chartguys/
https://www.youtube.com/@ChartGuys
https://www.chartguys.com/

Our Links

Bryan Fields on Twitter

Kellan Finney on Twitter

The Dime on Twitter

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Dan McDermitt

Episodes with Dan McDermitt