10-24-2013 Trading Journal

Market opened high and proceeded to climb higher for the rest of the day.

Meanwhile, knowing that I was holding $SPXS, I placed a market order to close out at open so I didn’t have to worry about it.  I got out with a small losses.

$NUGT opened higher so I added back the balance of the shares to go full size since I only went back in on starter position at market close yesterday.  I then placed a hard stop below the low of the last hour bar.  It was a good thing I didn’t get stopped out.  As of now, the hourly chart shows a potential cup and handle breakout.  If price continues higher tomorrow, the cup and handle breakout will be confirmed.   Take a look at the hourly chart below:

NUGT_hourly

 

Regarding $KGJI, since price opened with a bang, I added back the remaining 25% position size I sold yesterday.  While price gave back all the gain by the close, the daily chart still shows an uptrend.  I will be careful to watch the price action closely since I like to see price stay above the daily 15 SMA if not the 5 SMA.  Take a look at the daily chart below:

KGJI_daily

 

Regarding $KNDI, price also opened with a bang but price did more than gave back the gain, it fell below yesterday close.  Unfortunately, I added a bit more due to strong opening.  Well, the only good news was that price bounced back to close above the daily15 SMA line.  Since the 5 SMA had crossed over the 15 SMA, I like to see that current correction will stop here and bounce back.  We will know more tomorrow.  Take a look at the daily chart below:

KNDI_daily

 

I placed a limit buy on $NCTY and picked up some shares (starter position only) when price reached my level.

Due to my much more diversified portfolio, the fall of $KNDI have been offset by gain on my other positions.  In summary, while the market had a good day, I was at breakeven.

 

Current holdings:

LRAD, KNDI, CERS, AMRN, GALE, KGJI, TINY, NUGT, CLIR, APRI, NCTY and 17% cash.



Categories: Daily trading Journal

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