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:
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:
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:
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.
LRAD, KNDI, CERS, AMRN, GALE, KGJI, TINY, NUGT, CLIR, APRI, NCTY and 17% cash.
Categories: Daily trading Journal