05-06-2014 Trading Journal

Just when the bull thought it got away yesterday, the bear pulled the bull by the collar and yanked it back down.

SPY_Daily

And so the tug of war continued b/w the bull and the bear…As of now, market is trading in the consolidation range; so I wouldn’t call it a bear market yet.  In fact, if you look at the long-term trend line, we are still in a bull trend.  A pause in the long road ahead.

I sold $KNDI in the morning when I thought I would be adding more.  Why did I sell?  Well, from the SEC investigation, $KNDI did hire the promoters back in 2009 and 2010 and I was being mindful about a possible backlash from this news.  Based on today trading range, I was wrong to assume it.

Oh well, but all was not lost.  I used the money to add more $DDD in the morning when price action was behaving very strong.  I was correct to add more in the morning.  Price continued much higher afterward.

DDD_daily

Price is now banging against the resistance from three trading days ago.  Despite today down day, $DDD was able to maintain altitude.  Let’s see if it will bounce higher tomorrow.

I’ve been eyeing $WPRT ever since the surprised earnings report a couple of days ago.  I was waiting for it to correct to buy in and price just wouldn’t come down.

WPRT_daily

Seeing that price was trading in the 79 & 89 MA resistance lines, I’ve to make a bet on whether price will take out the resistance and head higher or drop back down below.  I opted for the former and bought $WRPT with the free cash from sales of some $AMRN yesterday.  Despite today down day, $WPRT was holding quite well.  Price actually broke out of the resistance during the day, I would like to see it bounce higher tomorrow or later in the week.

Well, $DMRC could not hold on to yesterday gain so my port took a hit on that; however, rally from $DDD helped offset some of the losses and my port gave back only 1%.  YTD gain is now 7%.

Current holdings:

DMRC, LRAD, DDD, SVBL, SEED, AMRN, NUGT, KGJI, WPRT, DNN (100% invested/speculated)

From my other account:

While $FITX bounced nicely today, the name of the game is still about waiting for Health Canada approval of license.

My 2 cents.

 



Categories: Daily trading Journal

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