11-12-2013 Trading Journal

Market was down slightly today.

$KNDI opened neutral and then headed higher, I added some more due to good bounce. But then the price could not hold and began to fall. After price settled around $6.6x, I began to add some more to rebuild my position.

KNDI_daily

While the chart today looked like an indecision from yesterday bounce, I would like to see continued upward momentum to maintain the long-term upward trend. In other words, price needs to go up to stay above the 79 & 89 MA support lines. To do that, $KNDI needs to release more news to reflect their continued progress in their business model.

I bought some $TINY to bet on some positive development from the earnings after hour.  Look like it was a wrong bet since their NAV per share is lower than last year.  Sigh…  I’m giving too much positive expectancy to this stock.

$KGJI had finally succumbed to gravity and sold off today with a bearish engulfment bar.  I had no choice but to lighten up my position size to reduce risk.  Regardless of how I think they will surprise on earnings. you can’t help but wonder how lower gold price can affect $KGJI future earnings.

KGJI_daily

I wonder if price will drop back to the 79 & 89 MA support lines at $1.5x to 1.6x areas before earnings.  If it does, I may buy back some.

Besides getting hit by $KGJI, I also got slammed by $PXD.  Price pierced thru both the 79 & 89 MA support lines so I had no choice but to unload 80% of my position to cut losses.  Without the support, there is a long way to go down.

PXD_daily

If price continues to head south tomorrow, I’ll dump the rest of my position and watch for bounce at a much lower price in the future.

$GMCR looked like it was finding support b/w $59 & $60 on the weekly chart..

gmcr_daily

If the weekly 89 XMA could act as support, it might bounce from here.  Thus, I bought a starter position.

While I was getting slammed by $KGJI and $PXD, I got a lift from $GALE.

Gale_daily

Price continued to head higher and I added more when price took out the Oct 3rd high.  Next target is $3.00.

I’ve been watching $AUDC and my last attempt was stopped out.  Today, price looked like it might bounce from here.

audc_daily

The green bar today convinced me there is a chance price could climb back up above the 79 & 89 MA support lines.  However, if it go down tomorrow, I’ll dump it for small loss because the 79 & 89 have become resistance.  I only bought a small starter position to test the water giving that price is below the 79 & 89 MA lines.

$CERS chart looked almost like the $AUDC chart so I added a bit more to build back my position.

$LRAD was the saving grace today since together with $GALE, it brought my portfolio up despite the losses from $PXD and $KGJI.

LRAD_daily

Look at that big green bar with higher volume.  Not to mention that both indicators below are also pointing up.  Perhaps there will be news soon to take this one even higher.  Pay attention to how price bounced off the 79 & 89 MA lines consistently here.  Magical!

Current holdings:

LRAD, KNDI, GALE, CERS, AMRN, GMCR, TINY, KGJI, PXD, AUDC and 26% cash.

My 2 cents.



Categories: Daily trading Journal

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