There was no doubt that the market took a tumbling today. Will it continue tomorrow? I dunno. However, a bounce will put a brake to the slide and cushion for next week. A further slide may trigger panic sellers and start a self-fulfilling prophecy of a downdraft.
Needless to say, I took a bath on $KNDI today. When price dropped below $13, I was SO tempted to dump my shares as well to lock in profit. “Remember $LNG! Remember $CLDX!” I hollered to my mind which was getting more antsy by the minutes. And to add more effect, I yelled to myself, “And your timing suck! Go ahead, sell and you would end up chasing it all the way back above $13!”
It worked! I did not sell my $KNDI shares and price did close above $13 after the panic drop to $12.60.
However, I did sell 50% of $CERS position to raise cash to buy back $TINY. For some reason, I do not want to be without this stock. I can sense something is up with this stock.
Other than that, I just sat tight all day. Hopefully, some of the 15% of my cash should free up tomorrow from the three days settlement that I can buy back some $GALE and others.
KNDI, LRAD, SEED, KGJI, CERS, TINY and 15% cash.
Categories: Daily trading Journal