Market surprised with another down day; however, while the DOW dropped a big one, the SP500 seemed smaller.
Looking at the daily chart, price is still “within” the support area (blue line). Yes, I moved the blue line a bit lower but it is still within the area of support. Now, it looks like we may bounce tomorrow.
$KNDI gave back some after a strong morning but that was not too bad.
Price is still near the bottom range of the consolidation period. Nope, I’m not worried at all and is still holding long and strong.
I bought back $GALE and $XONE this morning with the free cash made available today.
While I was slightly under water with $GALE, the daily chart looks good though. There is a higher low today and I’m expecting a bounce later this week.
$XONE didn’t look too bad either.
However, I like to see the low of two days ago to hold as strong support.
$KGJI, $CERS, $TINY all corrected some but I didn’t find them alarming enough to put up a chart.
$SEED had a nice bounce nevertheless.
Today drop only took my portfolio down slightly; not too bad at all.
LRAD, KNDI, SEED, KGJI, GALE, CERS, XONE, TINY (fully speculated).
Oh, regarding $PHOT. Today news from $PHOT “GrowLife and CEN Biotech Announce Collaboration on the World’s Largest and Most Advanced Legal Cannabis Production Facility” definitely solidify my resolve to hold this one for the long-haul.
“This production facility is expected to have the capacity to produce up to 1.3 million pounds of dried medical marijuana annually, and the total may include capacity that is set aside for import and export.”
Holy Bejeezus!!! 1.3 million pounds of LEGAL marijuana! Who would have thought of something like this today???
Although the deal has yet to be finalized and proper legal approval and permissions have to be procured in Canada, I can’t see a better cannabis company to invest with this kind of mega-potential! Pardon my excitement here. If price dips from here, I will be looking to add more.
My 2 cents.If you enjoy the content at iBankCoin, please follow us on Twitter