Market opened with a bang and headed higher the rest of the day.
$INO opened higher but after two 5 minutes bar had passed, I had a strong feeling that profit-taking would be coming en-mass. As in playing musical chair, the sooner you exit, the better off you are providing that you are willing to forgo any possible spike up in price. Well, I was willing to forgo any possible further run-up so I sold. Good thing I did.
$RVLT was holding well after open and I bought starter position after seeing that, on the weekly chart, price was bouncing off the 89xma. That looked like a good “catch-the-falling-knife” trade with a low risk stop. As price continued higher, I added some. What surprised me was that after I added, price spiked up much higher and I wasn’t there to witness it since I had to be away from my desk. Anyway, I added a bit more during a minor retracement from the top. But by the end of the day, I got cold feet and sold all my position to lock on profit. Statistically speaking, there is a chance of correction from profit-taking tomorrow if there is no follow-thru on today rally. So, I’m playing safe here by bailing first and see what happen tomorrow before deciding if I want to go back in.
After banking coin from $INO, I used some of the money to add to $CERS.
$AMRN was acting like it was “topping out” so I sold my swing trade position to see if I could buy it back cheap. The down draft didn’t last and price bounced back up. I was forced to buy back my swing trade for a small premium.
$KNDI was strong all day so I took advantage of an intra-day minor correction to add more share for the bounce. It did bounce.
AMRN, LRAD, KNDI, CERS, GOGO, APRI, GALE, ONVO and 10% cash.
Categories: Daily trading Journal