Market had a correction day after a two days run-up.
$NUGT gapped up higher at the open and I moved my GTC hard stop to breakeven.
Price is now right at the 15 MA line which could be a resistance or support depending on how price react tomorrow. If price drops, I may move my stop to protect profit. Perhaps, I’ll use the 5 MA line as my guiding post to move my GTC hard stop.
$GALE continued to correct as I had expected.
I bought the support at 15 MA line with the available cash for the bounce. Let’s see if this support will hold tomorrow. If not, I may take my small losses and wait for lower price to get back in. If it bounces higher, I’ll add more if cash is released.
$XONE finally had a bounce today after three down days.
I like to see price bounces back above all four MA lines.
$CERS continued to head lower.
Next support I see is around the $5.70 area. I’m still holding ’cause I believe once the tax selling is done, price will jump back up very quickly.
Both $KGJI and $KNDI corrected today but I’m still holding them for the long haul. Thus, there isn’t much for me to do for the day.
Although $KNDI, and $CERS had a relatively larger correction today, gain in $NUGT helped offset unrealized losses; thus my portfolio suffered only a small drop.
LRAD, KNDI, CERS, KGJI, XONE, TINY, NUGT, GALE and 4%.
My 2 cents.
Categories: Daily trading Journal