Happy hump-day, everybody, and what a day it was! Though I'm not surprised stocks dipped deep into the red ink on Wednesday given the bigger trend now in place, I would have thought we'd see at least a little traction after yesterday's bullish intraday upside reversal. Guess not.
The $64,000 question is, how bad are things thanks to today's setback? The answer is, pretty bad.
We'll dissect the market's new problems below. The first thing we want to serve up today is a look at some of the website's recent commentaries, including a big leap forward from one of our currently-featured names.
From the Site
First and foremost, for those of you who've been waiting for MyDx (MYDX) to launch its first product, your wait is over. As of today you can buy the CannaDX device to determine exactly what's in and what's not in your cannabis.
As a refresher for those who haven't been following the story, MyDx has been developing electronic sensors that can detect chemicals in a variety of things you put in your body. This includes food, water, the air you breathe, and per today's press release, marijuana. These devices are useful to anyone who wants to avoid eating things like pesticides, breathing things like noxious nitrous-based gases, and drinking things that may contain nasty chemicals like lead or sulfur. The handheld devices MyDx is developing can "smell" a sample and tell users exactly what's in that food, water, or air by sending a readout to a smartphone.
Well, as was said, the first of a series of these handheld devices can now be purchased... the one that examines cannabis.
This is a big deal for MyDx and its investors as it vindicates a lot of work that's been done up until this point. From here the company is very real. Bryan Murphy has the details, and explains exactly how this could be a game-changer.
The only other write-up at the site we wanted to mention to you today was James Brumley's look at, and suggestion of, Kandi Technologies (KNDI).
Like he said, this isn't exactly an idea for the faint of heart. Aside from being in an industry that's inherently volatile - electric cars - the company serves a market that may be on the verge of becoming a complete mess... China. Brumley thinks the meltdown of Chinese stocks may be close to an end, however, which would make KNDI something of a bargain in the absence of that marketwide overhang.
Perspective
Over the course of the past several days we've talked a great deal about why we think the market is due for a bigger dip, but also talked about why we don't expect any dip to be catastrophic. We've also tried to get a grip on when it might start, and how long any pullback might last once it gets going. These are all details and ideas that, while they won't change the market's fate, will help us navigate the market's waters no matter what they become.
As much work as we've done for you to that end (and we're not done yet), I think John Monroe over at the