11-26-2013 Trading Journal

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.

crto_daily

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.

wg_5m

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.

ino_daily

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.

CERS_daily

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.

XONE_daily

Let’s see if it can bounce up tomorrow.

$KGJI is still holding its ground above $1.80.

KGJI_daily

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.

LRAD_daily

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.

Current holdings:

LRAD, CERS, KGJI, KNDI, XONE, CRTO, INO, URA and 17% cash.

My 2 cents.



Categories: Daily trading Journal

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