Market had another up day.
Well, $WG penetrated the Andrew Fork lower line and I got out with a small losses.
See how when price took out the lower Fork line, it also took out the low of the last three days. With price already below all four MA lines, I’m not going to hang around when price did not bounced off Fork line.
When $GALE took out the lows of the last two days, I decided to take my small losses and stood by the side line.
I like to see price head down to the 15 MA line so I can buy back some cheap. Notice both momentum indicators below are pointing down.
$NUGT opened higher and I decided to try another bottom-pick play once again. GTC hard stop is placed at the low established last week. When price took out $27, I added some more. By closing bell, I am up nicely. I may move GTC hard stop to breakeven if price continues higher tomorrow.
I added to $TINY to accumulate more shares when price dropped to low $3.
Price bounced off the 79 SMA line.
$KNDI rallied hard today and the weekly chart looked fantastic.
Did you see how this week bar penetrated the downtrend line? See also how the 5 MA line hooked up and away from the 15 MA line? I see this as a coiled spring letting loose here. Glad I added more last Friday.
$LRAD also holding nicely.
See how the weekly bars are maintaining above the support line after the breakout from the cup and handle pattern?
$CERS headed lower again.
Price seemed to bounce off the 89 XMA line today. Let’s see if the bounce continues tomorrow.
$XONE dropped today but I’m leaving it along. I can see price bounce hard after the tax selling; meanwhile, $KGJI was holding its ground well today despite a minor drop.
Thanks to $KNDI rally today, my portfolio was up nicely.
LRAD, KNDI, CERS, KGJI, XONE, TINY, NUGT and 6% cash.
My 2 cents.
Categories: Daily trading Journal