Oop! Market went down slightly again today.
And $KNDI went down even more. I was expecting a correction like today and I was sorely tempted to take profit when it was trading back over $13 in the morning. Again, I’ve to remind myself of the long-term perspective. I put $LNG in my vision and then $CLDX. Then I put the price action of $XONE for the last month in my vision as well. $XONE traded below my initial buy at first and then it came back in spade. $KNDI will do the same. It will come back.
After some visualization exercise, my itchy fingers no longer felt like pressing the sell buttons; instead I bought some June call option ($15 strike price) to take advantage of the dip.
$XONE did well today despite its still being down for the day. Instead of down near 6%, it came back up to settle for a negative 1.58% only while its peer $DDD & $SSYS were down 4% and 6.2% respectively.
Overall, six out of nine stocks were up slightly. Due to $KNDI being my largest position now, it pulled my portfolio down a bit. But I’m not worried yet.
On my other account, $PHOT continued to move ahead. My unrealized gain has doubled but I intend to hold for much longer term. Like I predicted, the shortage of legal pot is far more extended than expected. Once Colorado proves to the rest of the country that it can generate mega-tax revenues from legalized cannabis, other States will want a piece of the pie as well. $PHOT has the potential to become a billion dollar company if it is managed properly. That is why I like this stock in the beginning when they hired the former Microsoft executive to run the ship.
It has been a long day for me so I’m not putting up any charts today.
KNDI, LRAD, KGJI, XONE, CERS, GALE, AMRN, TINY, NUGT (fully speculated)
Other account: PHOT plus various option trades.
My 2 cents.
Categories: Daily trading Journal