Today is a “Wow” day!
Look at the chart, “Wow!” is all I can say…
But before the “Wow” was to happen, the market actually went down not long after the open. Thus, I went short with $TZA with a tight hard stop below the intra-day low. Needless to day, I was stopped out for small losses. It was a good thing I had a hard stop close by; otherwise, I would lose a lot more than I want to if I didn’t pay attention.
Afterward, I looked for candidate to go long now that I had a clean port with plenty of cash.
I selected $CLDX ’cause the chart looked like it was ripe for busting out to the upside.
However, I used a close hard stop below intra-day low to protect myself in case the rally is short-live.
Next, I bought some $CLD for the bounce play as well.
While I was late to the table, the strong upward bar that took out the high of the last ten days reflected a lot of strength in today movement. As in $CLDX, I also used a tight hard stop below intra-day low in case the rally lost momentum.
I also bought $CREE ’cause today doji bar was finding support at the 15 MA line and the 5 MA was coming to meet it.
I was looking for the 5 MA to turn back up after meeting the 15 MA line. If price does not bounce from here, my tight stop below yesterday low will take me out for a small losses.
That was all I was willing to do today to test the water.
$DMRC recovered nicely today.
If price can bounce from here, current support has foundation that goes all the way back to February of this year.
$LRAD dropped significantly earlier in the day but recovered nicely by day close with higher than average volume.
If price can take out today high tomorrow, price may head back up above $2 easily.
Thanks to $DMRC recovery, my port also gained back 0.60% point. YTD gain is now 2.1%.
LRAD, DMRC, CREE, CLD, CLDX and 32% cash.
My 2 cents.
Categories: Daily trading Journal