Based on the SP500, market had a neutral day today.
On the other hand, both my portfolio makes new high today; the main and other account with $PHOT.
With the free cash available after the three days settlement was over from cutting my losses on $NUGT, I chose to add more $GALE and some $CERS instead of finding a new stock. Why? ’cause both of these stocks were heading higher in the morning.
$GALE gapped up and never looked back. Seeing that price took out yesterday high and took out the opening range at the same time, I put 3/4 of the available cash into $GALE to go with the momentum.
How would I know $GALE would keep going up after I added? I didn’t; however, statistically speaking, a strong upward momentum tends to have a high probability of continuing. It is simple Newton’s law of motion. See how price bounced off the 5m 79 & 89 MA lines? Magical, isn’t it?
I also added to $CERS today ’cause it took out $7 buck . I’d been waiting for this to happen and it did today.
Did you see how price also broke out of the previous high set in early October today? Now that $7 is breached, it is ready to move on to $8. I’m in the camp that there is a high probability FDA will approve $CERS’ blood purification system.
$KNDI had a wild run to the upside today and made new high before it came back down to cool off.
Today price action tells me that the market is looking for any excuse to run the price up. There are a lot of people on the sideline waiting for any definite news to show proof of concept to run this up. That is how I see it. Still holding my position long and strong.
$LRAD finally bounced back up strong from the support (blue line).
Due to the fact that $LRAD is my 2nd largest position, today run up add fuel to move my portfolio to higher ground.
Today, six of my eight stocks moved up today, with $GALE leading the gain percentagewise, which allow my portfolio to reach a new level.
KNDI, LRAD, GALE, CERS, KGJI, XONE, AMRN, TINY (fully speculated).
On my other acccount:
$PHOT had a “belated” monster run.
As I believe in the business model of $PHOT, I can only see that price can only go up and up. With more States coming on board in coming years, $PHOT can become a force to behold if they manage it right. With former executive from Microsoft and a stellar group of directors on board, I can only feel excited of the future prospect. Continue to hold for $1+.
My 2 cents.
Categories: Daily trading Journal