After yesterday recovering bar, I was not surprised that market closed green today.
Price now closed above the 15 MA line. Looking good for a continuing bounce next week.
Today, I juggled my port a bit to make room for two new stocks: $STV and good old $CERS.
After watching the China Digital TV webcast presentation from Deutsche Bank, I’m getting an impression that this could be my next $KNDI. I’d bought $KNDI from between $5 – $6 and rode it to $18.50 to lock in gain. Only this time, I see a much stronger business model with a predictable growth factor; unlike $KNDI which is counting on the “potential” acceptance of its EV business model by multiple cities across the China. I’m sure, in time, $KNDI will flourish; but the question is how long do we have to wait?
In today chart, it confirmed the support of $4.2x is holding by bouncing off yesterday recover bar. Thus, I bought a position with the remaining cash and to add more, I also sold 1/3 of my $AMRN position (at breakeven) to free up cash to buy more $STV. Let’s see if it will continue the bounce next week. I’ll be watching the $4.2x support.
I also revisited $CERS and like what I saw on the chart.
While prices were trading below the 79 & 89 MA lines, I like the fact that it had bounced from the support at $3.7x that went back to May of this year. Looking at the chart, I’ve to admit that the $3.7x support looks pretty solid.
$DMRC had a bounce that stopped the slide for the last four consecutive day.
Since this is a super-low float stock, it didn’t take much for any larger seller to create a landslide; on the other hand, it will very difficult for the same seller to buy back the shares at this price ’cause any buying in size can easily jack this price back up to $34.xx in no times. So, I’m not worried about the volatility here.
$ORBC is the star today.
Price took off probably in anticipation of next week SpaceX launching of its satellites.
Thanks to gain from $ORBC and $DMRC, my port gained back 0.7% today with YTD gain at 0.6%.
LRAD, DMRC, ORBC, STV, KGJI, AMRN, NMRX, CERS (100% invested/speculated).
From my other account:
$FITX chart looked good today.
It showed the floor at $0.4x is holding well. Now, can we hear about the HC licensing decision please? I wonder how much longer we have to wait to find out. Nevertheless, I can’t help admiring the professional and high tech look of the current growing facility that is waiting for approval to grow. I may consider adding more next week.
My 2 cents.
Categories: Daily trading Journal