Market was up slightly today and the general direction is still up.
Notice that volume was lower than average for the last two days. Can price continues to float upward from here? We will see.
I added to $KNDI due to a strong opening; but when price started struggling to stay within the opening range, I decided to put a stop below the range. I remember reading that some outfit projected a target of $20.xx; so I asked myself, “we are at the target, so who else is buying this up?” Apparently no one since I got stopped out when price fell thru the lower opening range. Luckily I still had some profit from yesterday buy that despite my adding this morning, I came out with a small profit. Although I got out of my large position two days too earlier; I really can’t complain about the profit I was able to capture. Stock speculation is risky and no one can ever get out at the top or buy at the low. We just need to stay true to our decisions without second-guessing ourselves because hindsight gives a different picture than the one we’ve envisioned.
$SEED took a tumble at the open when there were no news to hold yesterday gain. I did not sell ’cause my original objective of seeing thru the China’s decision on approval of the GM seeds has not changed.
While price came back down, it still stayed above the support (blue line). The good news is that $3 resistance had been broken, so I don’t see it as a hard resistance anymore. Let’s see if there is a bounce tomorrow.
I sold $SVA today ’cause price fell thru yesterday low.
When I loaded up to swing for the fence, I expected price to behave upward with strong momentum. And when price went the other way, I had no choice but to “get out of Dodge” before losses magnified to an unbearable point.
$MZOR bounced a bit today so I’m still holding.
Price is still at the upper range of the consolidation area so I’m not worried at this point.
$CARA corrected today but I decided not to sell any shares ’cause I believe this new pain-killer can improve pain-management drastically due to the lack of side-effects the opiate drug has. So, I’m holding this for a possible buy-out from big pharmaceutical company or positive phase 3 result.
See how price closed above the 5 MA line? Hopefully, it is finding support here.
Both $KGJI and $LRAD were practically neutral for the day.
Due to correction of $SEED, $SVA, and $CARA, my port gave back a chunk of gain from yesterday. However, my port is still above my milestone level.
LRAD, SEED, MZOR, CARA, KGJI and 28% cash.
From my other account:
$FITX continued to bounce back upward.
We may be seeing a V-shape bounce to take out the resistance @ $0.115 level. As $FITX continues to show progress on the construction of the facility, price will continue to climb higher.
My 2 cents.
Categories: Daily trading Journal