It's Part of the, uh, Healthcare System Now

Pot plays are still mostly solid this morning, as bears continue to miscalculate the imminence of a euphoric top in the space. To be sure, there will be sharp corrections along the way, as will always be the case in speculative industries like marijuana, particularly with the overlap in the biotech/healthcare sectors and various legal hurdles still to clear. 

Nonetheless, plays like CARA and INSY, on their respective daily charts, below, need to be monitored carefully by traders seeking to identify the next hot mover. And when we consider that the CRBP NBEV moves this morning are seemingly taking the baton from CGC TLRY, it simply reinforces the idea of sticking with the MJ ETF pot theme until the whole sector takes it on the chin. 

Elsewhere, previously hot names like FNKO SFIX are finally correcting a bit. These have been consumer/retail names I have been patiently waiting on to enter. Both names have great growth prospects, especially SFIX. But I want to see how SFIX deals with a potential 50-day moving average test into next week first.