08-01-2014 Trading Journal

The market took another tumble albeit a relatively small one compared to yesterday.

SPY_Daily

Looking at the chart, you can see for formation of a doji bar right on the 79 & 89 MA lines.  In a normal circumstance, a doji at any support or resistance has a better than 50% chance of reversing from current momentum.  Without resistance or support nearby the doji, it is more of a pause of existing trend.  Notice I stated “better than 50%”; not necessary in the high percentile of 70% and up.  However, if I’m a betting man, I’ll bet it is going to bounce next week.

While I got away yesterday from bigger losses, market found a way to hand it back to me today.

First, I sold my whole lot of $KGJI simply ’cause I was annoyed by the withdrawal of the cash dividend that was posted to my account.  Since I used the cash dividend to add more $AMRN, the withdrawal put me in a deficit cash situation (remember, I’m 100% invested in a non-margin account) and I received a debit call from my broker this morning.  I’ve never experienced a retraction of cash dividend ever after being posted to my account by any company.  This retraction was a red flag no matter how you spin it.  Waiting for approval from provincial government?  What if the provincial government denies approval?  Does that mean, “Sorry folks, we tried to give you dividend, but the big boss says no.” 

Anyway, to relieve my cash deficit, I sold some $KGJI to balance it back.  Then before I knew it, I sold the whole lot ’cause I just didn’t like the red flag that was handed to me in a silver platter.  With the add’l cash, I added more $HYGS.  Yes, I am a big believer in the emergent relevancy of fuel cell technology.

The irony of the day is that $HYGS is the only stock in my port that went up today while the other five stocks were down.

HYGS_weekly

Take a look at the weekly chart above. This week was an up bar that continued from last week up bar while the $SPY had a big down weekly bar this week.  The counter-trend against the falling general market makes $HYGS a very bullish stock when general market turns bullish. Imagine seeing the beginning of the 3rd wave of the five wave Elliott Wave Theory on the weekly chart.  I can see $100+ when the 3rd wave complete its run.  Pardon my excitement here.

$DMRC continued to disappoint but I’ve resigned to wait this one out.  A sudden turn-around can be expected if a deal can be struck with any big name retailers.

$AMRN gave back was expected as I had stated yesterday.  Without FDA response today, no one wanted to hold thru the weekend.  However, giving the volume yesterday compared to today’s, I suspected a lot more people are holding for the FDA decision.

Today damage was 2.7% against my port and YTD losses is 4.1%.

Current holdings… and then there is six…

LRAD, HYGS, DMRC, STV, AMRN, ORBC (100% invested/speculated)

Notice that $HYGS is now my 2nd largest position.  $DMRC will have to earn its place back by climbing back up in the near future.

From my other account:

I bought $KNDI for the bounce and bounced it did; but it also took out my breakeven stop later on.

My 2 cents.



Categories: Daily trading Journal, HYGS

Tags: ,

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