Today the market gave me a merry-go-round. It opened down and then traded all the way back up to the positive side.
Meanwhile, the gapped down spooked me to the point that I started to unload my position and raised cash to protect my portfolio. For some reason, I decided to unload all my $KNDI position thinking that it would be the first to tank big if market drop continued unabated. Lo and behold, was I wrong! $KNDI spiked big and took out the opening range quickly and moved on to take out Friday high as well as the high of the last eight trading days.
What did I do?
I scrambled to buy the shares back. Unfortunately, I had to pay dearly to get my shares back. OH well, such is the price for playing safe.
Asides from $KNDI, I had no regret on reducing position size on $APRI and $CERS. I will be looking to buy them back if price momentum begins anew later this week.
LRAD, KNDI, CALL, CERS, APRI, GALE and 57% cash.
Categories: Daily trading Journal