The market had an up & down yoyo day.
Price was higher from the morning but turned negative in the latter half of the trading day.
At the market turned south, I decided to sell my $SWIR position for taking out the $20 support. $SWIR made an impressive showing coming from negative opening to a positive price action during the late morning. And when price started to fall off along with the general market, I wanted to reallocate cash to other stocks that showed strength in today drop.
$NMRX and $BIOS were able to resist the falling market; so I added more of these.
$BIOS looked like it wanted to go higher from the last five days of bull-bias small movements.
$NRMX was able to resist the fall and closed even for the day.
$ORBC dropped further to the uptrend line support. I added a bit more today to build my position. I like the fact that $ORBC are sending more satellites to space to increase its bandwidth on “Machine to Machine” communication. The company name, “Orbcomm, Inc.”, has a futuristic ring to it… Ha!
$DMRC corrected a bit with $AMRN bouncing back. While the gain could not offset the losses, it was enough to cushion my loss on my port to 0.9% losses. YTD gain is now 4.2%.
LRAD, DMRC, AMRN, KGJI, NMRX, BIOS, ORBC, TIBX and 3% cash.
From my other account:
I bought $ENRT to add to my cannibis stocks collection. $ENRT is a mini version of $FITX with a market cap close to 8% of $FITX’s market cap. A huge difference. This tell you the people are willing to place a huge market cap value on a good marketing campaign. $FITX has all the fanfare of name dropping and aggressive “mission” statement that its market cap rivals that of $TWEED who already have a license with similar production capacity to produce and sell. $FITX’s no license yet position commands quite an impressive market cap.
Thus, I find a small cap company like $ENRT a refreshing opportunity to participate in the cannibis market on the cheap. Yeah, $ENRT could be a scam, so you say. The way I look at it, $ENRT has enough of a story behind the company that is no better or worse than $FITX’s. Both are waiting for Health Canada to give them a license to produce and sell. So both have the same opportunity to collapse or run higher based on approval status. But because $ENRT is so tiny right now, any run-up will be more pronounced than $FITX.
Currently, I’ve $MCIG, $TWD.V, and $ENRT for cannabis play.
My 2 cents.
Categories: Daily trading Journal