Market was dancing like a happy child following the uphill path until it stepped on a banana peel and fell back all the way to the starting gate.
$CRTO opened higher and I bought a bit more to bring my position back to the original full size.
While the action and volume were small, price continued to stay above the 5 & 15 MA lines.
$WG started off the gate falling into the abyss so I had no choice but to cut the trade.
Since it was only a starter position, the losses were small. I’m still debating whether to include $WG as a long-term hold. I like to see how price action close for the year before deciding.
After looking at the $INO daily chart, I’m going to take a chance of it breaking out of the cup and handle pattern.
The handle seems to appear on the left hand side though on the chart. Nevertheless, price bounced off the daily 5 MA line and is now settled above all the MA lines. This should provide some support for a breakout if there is one.
$CERS made a fantastic recovery today after yesterday correction.
I guess I’m being rewarded for my conviction. Price bounced right off the daily 5 MA line which, to me, is a very bullish sign since the 5 MA support is generally not as strong as the longer MA siblings. Thus, bouncing off a light-weight MA is considered very bullish in my book.
While $XONE was still under water slightly today, I took comfort that it was still trading above the support floor around $50.6x.
Let’s see if it can bounce up tomorrow.
$KGJI is still holding its ground above $1.80.
I like the fact that price is now above the 15 MA line and the 5 MA is hooking up.
$LRAD continued to struggle to maintain high ground.
There was a very large ask early in the morning and I was glad to see it get gobbled up quickly. This tell me that the underlying strength is there since buyers are out there waiting for a good deal instead of going in to drive the price up.
Thanks to $CERS 180 degree recovery, my portfolio was up today.
LRAD, CERS, KGJI, KNDI, XONE, CRTO, INO, URA and 17% cash.
My 2 cents.
Categories: Daily trading Journal