Finally, a correction day…
It was interesting ’cause even though it was a down day, $SPY still managed to come out with a green bar. So, go figure.
With my $TZA opened green, I moved my stop to breakeven not long after the open ’cause I sensed the market wanting to bounce It wasn’t long before I was stopped out of $TZA. I was just happy to recover the losses from yesterday down day.
Since $SPY was acting bouncy, I decided to buy the two “Internet of things” stocks that I researched last night- $SWIR and $NMRX.
Both $SWIR and $NMRX are banging its head against the resistance of the 79 & 89 MA lines.
If prices can take out these resistances, it may run hard from here to the upside. If not, i may have to contemplate taking a losses and look to buy back cheaper. Regardless, I’ll have to find a way to stay with the “internet of things” stock for the long-ride up.
I learned a lesson on patience today. After the open, I wanted to buy back some $BIOS. Instead of waiting for its to correct some more before buying, I went and bought when it was still trading higher in the morning. With the DOW down at the open, I should have known better. Now, I was sitting on a losses from the morning entry.
I like the strong yesterday up bar. That was the main reason I bought back in. I’m going to have to learn to take some heat on this one if I believe it is going up from here. While today was a red day, price is still on an interim uptrend with price closing above the 5 MA line.
Despite a down day, there were only two stocks in my port that was down:$DMRC and $BIOS. Fortunately, the rest of my position was either neutral or up slightly which was enough to offset “most” of the losses from $DMRC and $BIOS. My port dropped slightly by 0.15%.. YTD gain is now 4.15%.
LRAD, DMRC, SWIR, KGJI, BIOS, APRI, NMRX, AMRN and 9% cash.
From my other account:
$TRTC held steady for the day and I’m still holding.
My 2 cents.
Categories: Daily trading Journal