04-11-2014 Trading Journal

Market continued to drop further down today.

SPY_Daily

It didn’t bode well that price penetrated the 89 MA line to the downside.

I did something based on “wishful” thinking that prompted me to sell out $TZA and $FAZ in the morning.  I was giving the market too much “hope” for a Friday bounce. At least, it looked bouncy after the gap down open.  I was envisioning today as the day with market opened down and then closed 100 points higher.

Thus, I placed a stop on my $TZA and $FAZ below the opening range in case my scenario turned out to be true.  Well, the market made a half-heart attempt to bounce that took out my stop but there weren’t enough juice to keep the ball rolling upward. Market eventually fell back down and $TZA rallied the rest of the day.

Due to my “bullish” sentiment in the morning, I used up the free cash to buy $GWPH, $SEED, and $KNDI.  With the lion shares of cash still tied up in the three-days settlement, I had no cash to buy back the $TZA.  Oh well…

However, all was not lost in the hedging department.  While $LRAD was falling like all other stocks, $SVBL came to the rescue by rallying 9%.

SVBL_weekly

Above is the weekly chart of $SVBL.  Notice that the lower band of the Bollinger band is actually turning up.  Stochastic momentum indicator below is also turning back up from the lower range.  Perhaps, this one may rally next week.

Thanks to gain on $SVBL, it was enough to offset losses on $LRAD.  Gain on $TZA and $FAZ helped offset the losses on $GWPH.  Yeah, I bought too much $GWPH… I also sold $GWPH to cut losses in the afternoon.

Thus my week ended practically unchanged despite another week of water-falling price action on both DOW and Nasdaq.

Current holdings:

LRAD, SVBL,SEED and 67% cash.

My other account:

$FITX gave back the bounce from yesterday.  I’m still holding ’cause we are not that faraway from the completion of the Lakeshore facility for Health Canada to inspect.  We may hear something by the end of the month.  Meanwhile, I just need to take the heat and wait it out.

My 2 cents.

 



Categories: Daily trading Journal

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