03-20-2014 Trading Journal

Market bounced right back up and popped its head above water once more again.

SPY_Daily

Will it stay above or will it dive back down?  Tomorrow, we will see.

The highlight of the day is the big bounce from $MZOR.

MZOR_daily

As a result, I added more to swing for the fences. $MZOR is now a close second largest position after $LRAD.  Since $MZOR has only sold a handful of the robotic machine to the US hospitals, there remain a huge market for $MZOR to tap into.  The way I see it, as more and more hospitals begin to adopt this robotic machine, price will continue its upward trek.  I see a breakout coming either tomorrow or next week.

On the downside, $CARA, $SVBL, $KGJI, and $SEED more than offset the gain from $MZOR; thus, my port went down a bit today.

The new action I took today was to buy the bounce on $KNDI when price rallied from the 15 MA line in the morning.  I was in the money rather quickly; however, when I found out it was short-lived, I immediately sold my position at breakeven ’cause I know how fast $KNDI can drop based on recent experience.  Well, it was a good thing I acted quickly; otherwise, I would have to take the heat on the position since $KNDI closed below my morning entry point.  I’ll be watching $KNDI to catch another bounce that may hold.

I also reduced my position size on $KGJI furthermore ’cause it had been dead money for quite a long time now.  If price takes out the $1.85 resistance, I may add back my position.

I’m taking heat on $SVBL but I’m not worried since my position size is relatively small.

I also bought a starter position on $TZA with a GTC tight stop below the historical low just so I have my foot in the door.  So, if the market begin to tank again, I just need to add more without having to watch the downdraft and forget to participate.  Having a position make it possible for me to participate more actively.

Current holdings:

LRAD, MZOR, SEED, CARA, SVBL, KGJI, TZA and 21% cash.

From my other account, $FITX was neutral today so I won’t bother to show a chart.

My 2 cents.



Categories: Daily trading Journal

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