Market had a lukewarm down day; nothing like yesterday but a down day nevertheless.
I was stopped out at the open when $NUIGT gapped down way passed my breakeven stop. Again, I had to witness giving back all my unrealized gain on the $NUGT trade. I sorted of nailed the bottom for a day or two with nice profit; but because I was looking for a longer term outlook on $NUGT, I was willing to risk giving back profit for a bigger pay-off. Not this time once again.
However, looking at the daily chart above,it seems like $NUGT was bouncing off the established low around the low $25.xx. If price takes out today high, I may go back in. But with limited cash available, I’m debating whether to buy $WG, $CUR, or jump back in $NUGT.
$GALE traded lower after open and I decided to add to my position when price bounced off from the 89 XMA in the 5 min. chart. Yesterday strong came back was another reason I wanted to rebuild my position on $GALE.
Notice that price dropped at the close. This was due to $INSY receiving a subpoena from Office of Inspector General for sales and marketing issue. Since $INSY is selling a competing products against $GALE’s Abstral, the drop may be misguided ’cause $GALE should benefit if $INSY products sales are being compromised from the investigation. Let’s see how it rolls tomorrow.
$KGJI had a nice bounce off the 79 & 89 MA lines.
Notice how the 79 & 89 lines are merging together. Did you see the bullish engulfment candlestick bar today? Still long and strong on all my shares.
$KNDI also bounced today except that bounce was from the 15 MA line.
You can see that the price is not that far off from taking out the downtrend line. While I have given back a nice unrealized gain from three days ago, I do not mind since the the long-term gain from this stock is far more bigger…
$CERS has finally stabilized with a doji bar.
As you can see, price is settling on the established floor around $5.7x. Let’s see if it bounces tomorrow.
$TINY continues to head lower but my eyes are focusing only on 2014 for this stock.
Despite some price rally on $KNDI, $KGJI, $XONE,,my porfolio still suffered a minor dip due to giving back gain on $NUGT and a drop in $LRAD price.
LRAD, KNDI, CERS, KGJI, XONE, GALE, TINY and 4% cash.
My 2 cents.
Categories: Daily trading Journal