20-Year Pro Trader Reveals His “MoneyLine”
Ditch your indicators and use the “MoneyLine.” A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here’s how he does it.
Japan: Public Comment Period On Cannabis Reform Begins
The Japanese government confirmed last week that a public comment period on its cannabis reform bill is officially open, reported Business of Cannabis.
Among the proposed five measures of the new bill is the one that would loosen rules around the use of CBD in food products, which could make it the first country in the world to approve CBD in food.
Last month, The Japan Times reported that the cannabis market grew sixfold in the past four years, with ¥24 billion ($154 million) in 2023 sales, driven by the growing popularity of CBD products. Furthermore, some six months earlier the government expanded access to medical cannabis with its first amendment to the Cannabis Control Act in 75 years.
Yves Antoniazzi, managing director of Astrasana Holding AG, which has a foothold in the Japanese CBD market, told the outlet: “We have been waiting a long time for this. It is a huge milestone for the global cannabis industry. Japan is the first country to approve CBD in food, paving the way for corporate companies to list CBD products in retail chains.”
See Also: Cannabis Arrests In Japan Hit Record High, Australia’s Hemp Sector Faces Setback, Morocco’s 294-Ton Legal Harvest And More
Australia: Senate Committee Rejects Cannabis Legalization Bill
Australian senate committee rejected Friday legislation that would legalize personal cannabis use across Australia, writes News.
Last August, David Shoebridge, Greens Senator for New South Wales, Australia presented The Greens Legalising Cannabis Bill 2023 which would allow adult-use cannabis across the country, This was the first bill introduced in the federal parliament that would regulate the legal marijuana market, and it came quickly after the Legalise Cannabis Party introduced a bill to legalize personal cannabis use in Victoria, New South Wales and Western Australia’s parliament on the same day.
The legislators rejected the proposal stating, “Ultimately, the committee is concerned that the legalisation of cannabis for adult recreational use would create as many, if not more, problems than the bill is attempting to resolve. While endeavouring to do so, the bill does not address several significant concerns, for example, ensuring that children and young people cannot access cannabis (particularly home-grow), managing risky cannabis use, and effective oversight of THC content.”
Meanwhile, a new survey from the University of Sidney revealed that medical marijuana is more likely to be used to treat a pain condition and less likely to treat a mental health condition than illicit cannabis used by people who self-medicate.
Key survey findings included:
- Across all users, the most common conditions people treated with medical cannabis were pain (37%), mental health (36%) and sleep (15%) conditions.
- Prescribed users were more likely to use their cannabis for pain than illicit users (38% compared with 33%) and less likely to use it to treat a mental health condition (34% compared with 40%).
- Although less likely than illicit users, a large proportion of prescribed users (34%) were prescribed cannabis for their mental health conditions, and 16% for sleep conditions.
See Also: ‘World-First’ Medical Marijuana Driving Trial Approved In Australia, Victoria Government Invests $4.9M
As more countries around the globe embrace legal cannabis, the opportunities in the space expand. To learn all about the future of the cannabis industry, join us at the Benzinga Cannabis Capital Conference this October in Chicago. Hear directly from key industry players and policymakers. Get your tickets now by following this link.
Thailand: Six-Fold Increase In Medical Marijuana Costs One Reason For Recriminalization
Thailand’s Health Ministry revealed that a close to six-fold jump in medical marijuana expenses sparked the need to recriminalize cannabis use, writes Bloomberg.
According to Health Minister Somsak Thepsutin‘s Saturday statement, total medical costs for illnesses treated with medical marijuana jumped between 15 billion baht ($407 million) and 21 billion baht after the government decriminalized its use two years ago. This compares to 3.2 billion baht to 3.8 billion spent in treatment costs between 2019 and 2021.
Last week, hundreds of marijuana entrepreneurs, farmers and advocates gathered in Bangkok to protest the government’s recent decision to reclassify cannabis as a narcotic. The rally was held in front of the United Nations Economic and Social Commission for Asia and the Pacific headquarters. Advocates, carrying “stop villainizing cannabis” posters, managed to collect close to 2,000 signatures for a legal petition against the government’s move.
In May, Thailand’s Prime Minister Srettha Thavisin announced the intention to re-criminalize cannabis by the end of 2024, listing it as a narcotic again and restricting its use to medical and health purposes.
Morocco: First Cannabis-Based Dietary Supplements Hit Shelves
Morocco launched the sale of legal cannabis-based dietary supplements and cosmetics products across pharmacies on Saturday, June 1, reported Morocco World News. The first products to hit the shelves include nine dietary supplements and ten cosmetic items, all registered with the Directorate of Medicines and Pharmacy (DMP).
See Also: Morocco: Government’s Official Logo For Legalized Cannabis Products
20-Year Pro Trader Reveals His “MoneyLine”
Ditch your indicators and use the “MoneyLine.” A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here’s how he does it.
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