Away it went… up!
Look at the momentum to the upside!
Meanwhile, some of the my positions didn’t have the same momentum type of up movement…
$CLDX opened and headed lower which triggered my hard stop I placed yesterday.
While price recovered to even before closing; it did not have the same upward momentum to have a new high bar. So, I did not miss anything by stopping out at small losses.
I bought $KNDI hoping to catch a bounce with a tight stop below yesterday low.
Nope, price did not take off like the $SPY and instead took me out by taking out yesterday low. Looking that the chart above, You would think that it went out of air…Price also closed below the 79 & 89 MA lines. So, I didn’t miss this trade for stopping out for small losses.
$BIOS opened higher than yesterday close so I bought back a starter position to test the water.
I even added more during the day; however, by end of day I decided to close out my position for small gain ’cause I didn’t want to hold this over the weekend when price only bounced modestly today.
$CREE went out of air by the close so I sold to lock in small gain as well.
With the $SPY shooting up, I didn’t want to hold any “swing trading” positions if price did not follow the same pattern. $CREE gave back gain by the close so I sold.
$CLD also did not maintain the same $SPY upward movement; instead, it came back down from the intra-day high to settle back at the opening price to create a doji bar.
Nope, I was not willing to hold this one as well when price did not follow the $SPY so I sold for small gain. Notice that price could not close above the 89 MA line which meant that these two MAs are still strong resistance.
I searched my emotional connection to selling out my $KGJI and $AMRN earlier last week. The reason to my action was nothing more than letting the “momentum” of selling of other positions to carry over to these two positions which I actually hesitated to sell.
A simple “Why not?” pushed me over so I clicked, clicked, and clicked to sell $KGJI and $AMRN to my own chagrin.
Since $LRAD and $DMRC are my long-term fundamental play, I left them alone.
Regardless of my non-stellar performance of the positions I sold, $LRAD and $DMRC both gained enough for me to recapture 1.2% in my port. YTD gain is now 3.3%.
$LRAD, $DMRC, and 46% cash.
My 2 cents.
Categories: Daily trading Journal