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