01-10-2014 Trading Journal

Another neutral day for the general market; however, on the SP500, it is definitely biased to the upside due to the consecutive positive closes from Tuesday to today.

Today, except for a small correction on $KNDI, my other seven stocks traded higher at the close.

$GALE continues to trade well and price action is now trading above the 5 MA line which is very bullish from my perspective.

Gale_daily

Notice price action is also following the upper band of the Bollinger band.

$KGJI is testing the resistance at $1.85 once again.

KGJI_daily

It is looking more and more feasible that by next week, price will trade over that resistance.

$CERS has a strong week and price took out the resistance of $7.13 from early October.

CERS_daily

From the weekly chart above, I can deduce that price will head much higher from here.  $8 is the next target.

$AMRN is able to close above the December high of $2.19 today.

AMRN_daily

This is definitely a good sign since it is reflecting a general consensus that FDA “may” come out with some positive response by Jan. 15th.  Of course, this is still a gamble on a binary event; but I sense that the cards may be in our favor the way a card counter know that the dealer may bust giving the number of high cards in the shoe.

$TINY finally came back to life today with price action closed above the 79 & 89 MA lines.

TINY_daily

Notice that the Bollinger band had shrunk with price action closed above the upper Bollinger band.  There is a possible breakout to the upside in the next few weeks.

$LRAD is holding its ground above the $1.90 price zone.

LRAD_daily

See how the 5 MA line is now beginning to point up and may be crossing over the 15 MA line next week.

$XONE continues to hold its ground above the November high at $64.70 support..

XONE_daily

I like the fact that price closed above the 5 MA line.

And finally, $KNDI continues to trade inside the consolidation range (grey box).

KNDI_daily

Since the overall trend is still up, I’m not worried about current price action.

Since seven out of my eight stocks closed higher today; my portfolio continued to head higher.

Current holdings:

KNDI, LRAD, GALE, CERS, KGJI, XONE, AMRN, TINY (fully speculated)

Regarding $PHOT on my other account:

phot_daily

As you can see, price bounced off the 15 MA line near the $0.19 line.  I added some more shares a bit below $0.20.  Since I’m still sitting on unrealized gain on my $PHOT speculation, the additional shares I’ve bought yesterday and today are considered averaging up.  I’m still a believer in $PHOT from a long term perspective.  Why do I worry about a 20 cents correction when I’m looking for dollars plus gain in the years ahead?

My 2 cents.



Categories: Daily trading Journal

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