Market went down under water in the morning but decided to come back up for air by day close.
Price closed right back at the upper range. If tomorrow is an up day, we are back on heading up.
At first, with market heading down, I sold $SVA to reduce my risk on biotech exposure. I also sold $CERS even though it was a smaller position. By closing time, both climbed back up to neutral. I’ll wait a day or two to see which way the wind blows before jumping back in.
Although I missed the spike-up on $TINY, I thought I would buy in today and see if the rally would continue. After I bought, then I did some digging to see what was the excitement on the D-Wave quantum computer. Based on my limited reading, it was my conclusion that the QC is not ready for prime time just yet. Thus, I sold my shares I bought in the morning for losses and moved on. I didn’t want to ride this one back down to low $3 and then get stuck again. Who know, perhaps it will continue to move up; but I trade only if I feel right about it. If I don’t feel right, I get out even though I could miss a run-up.
Except for $SEED, the rest of my positions were in red. Thus, my port continued to drop a notch.
LRAD, SEED, MZOR, CARA, KGJI and 31% cash.
From my other account:
$FITX continued to correct a bit more. As long as we are waiting for the construction of the facility to be complete and for the Health Canada permit to be issued, $FITX would be subjected to volatility. One must learn to live with this uncertainty in this highly speculative investment. If you choose to be in this stock, then you must take the heat when it comes.
My 2 cents.
Categories: Daily trading Journal