The market continued to bounce today.
It closed above the range which was a very good sign.
$KNDI opened higher and then went on to take out the high of yesterday.
But that didn’t last, not long after making new high, price dropped like a rock. My mental stop was triggered and I sold at the market to protect profit. Price then bounced around b/w the low of the day and yesterday close. The SeekingAlpha article comparing $KNDI to other biofuel stocks like $FCEL didn’t help either. I’m going to wait this one out to see what happen before venturing back in. Although I mentioned that I would hold this one for medium long-term, I do change my mind from time-to-time giving the circumstances surrounding the price action. Sometimes I’m wrong and sometimes I can get lucky; but I learn to follow my instinct, right or wrong. Giving enough time, my instinct becomes another tool I use to trade the market.
$CARA continued to bounce.
Price closed above the 5 and 15 MA line. It does look like we may see a V-shape reversal after-all. Notice that price bounced today on low volume. That is why I don’t trust the selling when the float is so small. You could be cheated out of your shares if you don’t have enough conviction.
$SEED also bounce off the support line today.
And the 5 MA line is now turning back up after touching the 15 MA line. I like to believe $SEED is heading back above $3 soon.
I’m glad to see $MZOR also bounced up.
It was good to see price moved away from the bottom range.
$SVA took out yesterday high and I want to go back in so I bought back some.
If price continues higher, I’ll add more when cash becomes available from the three days settlement.
$KGJI disappointed when price took out the lower range of the consolidation area.
What doesn’t look good is that price is now under the 79 & 89 MA line. I need to decide what to do with my position real soon. Perhaps, I will lighten the load a bit.
$LRAD and $SVBL didn’t do much today so I won’t post any chart on them.
Thanks to $SEED and $CARA, my port bounced back up another notch. Now, my milestone target is only a stone-throw away.
LRAD, SEED, CARA, MZOR, KGJI, SVBL, CERS, SVA and 17% cash.
From my other account:
$FITX did a fantastic job blasting out of the downtrend line.
Now, I like to see price takes out the previous high of $0.10 set up on March 7th.
My 2 cents.
Categories: Daily trading Journal