The market had a neutral day today. It didn’t have much action at all.
Due to the three days settlement rule, my 37% cash were still locked up today so I couldn’t do anything. Gawd, how I wished I could add to $KNDI!
$KNDI bounced back due to news on delivering four-passenger pure EV to the public EV sharing system in Hangzhou. While 200 cars are not a lot (for now), it definitely reflects the beginning of the business trend.
Today up bar gave the previous bar low right at the 79 & 89 MA support lines a high probability of an interim low. If price can take out the Nov 5th high of $7.11, we will have another confirmed change in trend to the upside.
$GALE continued to head higher.
I like the fact that it took out the high of Nov 6th @ $2.44. This added to the confirmation of an uptrend. It doesn’t hurt that both indicators below the bars chart are still pointing up. Next target is to take out the Oct 3rd high of $2.58.
$KGJI was still struggling to maintain altitude despite gold price still being down.
Price was able to close a bit higher and above the 5 and 15 MA support lines. I like to see the 5 MA crosses the 15 MA this week before Friday earnings report.
$PXD was still struggling and corrected a little bit today.
Despite the down day, it is still trading above the 79 & 89 MA lines which I like to see hold. We will find out this week.
$CERS was disappointing today with a down day.
I took comfort that I only have a standard size and not the “load the boat” position. I will hold for the bounce and when it bounces, I’ll add more then.
$LRAD was as disappointed as $CERS.
Nevertheless, I take comfort that price is still above the 79 & 89 MA support lines.
AMRN had a minor correction after the gapped up Friday.
Basically, I’m still holding my position from Friday.
LRAD, PXD, KGJI, GALE, KNDI, CERS, AMRN and 37% cash.
My 2 cents.
Categories: Daily trading Journal