China Kangtai Cactus Bio-Tech Inc (fka CKGT)

[pappy]

"I think those buying ckgt should keep a eye on the 50dma now @$2.31."

As this market correction continues to gather steam ckgt has hit $2.41 today so far.

In a major market sell-off I like to buy stocks that are down 30-50% from their highs.

The stocks that correct this much are usually the market leader of the past advance.

Thus investors are interested in not giving back their large gains making the past big winners targets to give back a large part of those gains.

As for ckgt I believe the 50dma will act as strong support since its visibility of earnings is very strong.

So I guess what I am saying is stocks with good future earnings visibilty:example[ckgt bspm,etc.] will probably only sell off maybe 20-25% off their recent highs.

Corrections like the one we are now in are bound to happen from time to time. I will put some of my 65% cash back to work very soon as a reversal imo is not to far off.

And even if I am wrong on my market buy timing buying a stock with good future growth 20% or better off its recent highs is a deal that works for me.