The market corrected a bit today.
Looking at the chart, the correction was neither deep nor heavy. It actually looked like a healthy pull-back.
But the market had it easy. My port, on the other hand, took a slap on the face.
$LRAD took a fall with relative low volume.
Price found support at the 15 MA line and is still above both 79 & 89 MA lines. Thus, the bull trend is still intact for the time being.
$DMRC, on the other hand, took out the previous pivot low as well as the 79 MA line.
While I didn’t like the fall today, the volume was also relatively low. And both the 79 & 89 MA lines are still pointing up. In the absent of news on retailers, $DMRC will be thrown around a lot by people trading in and out. Since I’m holding this for long-term, I’ll have to put up with the volatility. Today fall was actually quite significant.
$AMRN also took a tumble.
Price fell back below the 89 MA line. Supports are the 15 and the 79 MA lines. Since I’m holding this one for fundamental reason, I’m going to have to suck up the volatility as well.
$NMRX fall was as bad as $DMRC.
However, volume was below average. I’m holding this one as well.
$BIOS took an early tumble so I bailed in the morning to cut losses.
I simply did not have enough conviction to hold this one like the others. However, I’ll be keeping an eye for the bounce.
Out of the seven stocks in my port, only $KGJI was positive and $ORBC was only slightly down.
Needless to day, my port took quite a hit and gave back 3.1% today. YTD gain is now 3.6%. Ouch! Nevertheless, in the overall scheme of long-term perspective, this drawdown is very much part of the deal..
LRAD, DMRC, AMRN, ORBC, KGJI, NMRX and 7% cash.
From my other account:
I sold $FITX in the morning to cut losses when I saw price collapsed. I also sold 50% of $ENRT to reduce risk.
Current holdings: TWD.V, ENRT, MCIG.
My 2 cents.
Categories: Daily trading Journal