Market fell off the cliff today but managed to hang onto to the tree branch dangling above the consolidation range.
See how price closed back above the range? I could see a bounce tomorrow.
Meanwhile, thanks to $KNDI and $CARA, my port made new high today.
$KNDI opened lower but bounced back to the surface rather quickly.
As you can see, the bear tried to push $KNDI down in mid-day but failed; price bounced back up to close near the high of day. It was a nice looking bullish chart, you would think the general market was up today just by look at $KNDI chart.
My weekend research pointed me to $CARA. It has a fantastic story of a pain-killer drug that is as strong as a morphine drug but without the opiate addiction side-effect. Please pardon my pasting an excerpt from a contributor from SeekingAlpha:
The most exciting CARA compound is CR845, which is not a CB-acting drug. CR845 is unique because it acts on pain receptors in the same class as those acted on by morphine but it does not cross the blood-brain barrier, leading to significantly reduced side effects. This molecule is currently in Phase III studies for Post-Operative Pain, and had excellent morphine-sparing effects in Phase II results.
I couldn’t contain my excitement as I learned more about $CARA. As luck would have it, due to negative market open, $CARA also opened down. I jumped at the opportunity to build up a position while price was debating whether to go down more or to go back up. I didn’t care if it would go down more ’cause I wanted to buy more. As price began to climb back above water, I just kept on buying until I got the amount I wanted.
To my surprise, price began to climb much higher from my entry point during mid-day. Although price gave back some gain from the high of the day, $CARA closed almost 13% higher for the day.
$SEED also performed admirably in the face of down market.
Price did bounce back from the support as I had predicted. $SEED looks like it is going to go much higher soon.
Although $LRAD, $MZOR, and $KGJI all corrected a bit today, the gain from $KNDI, $CARA, and $SEED propelled my port to another new high today.
Current holdings:
KNDI, LRAD, MZOR, SEED, CARA, KGJI, SVA and 1.5% cash.
From my other account:
$FITX continued to head south and somehow, I wasn’t concerned at all.
Notice that price is getting near the 50% retracement area. Currently, the heat I’m taking is being absorbed by the gain I made from $XTRM earlier before I got into $FITX. In the back of my head, I somehow know that $FITX will pull through and get the facility build… but that’s just me.
My 2 cents.
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