Market tripped and fell into the hole; however, it quickly dragged itself back up the surface.
It was a respectful counter-attack by the bull against bear.
These days, fuel cell business is losing the respect. $HYGS continued to get pounded; day after day its big brother Commscope Inc. was dumping shares. This caused a whole lot of other folks to dump along. Did Commscope know something we don’t know, “Sell! Sell!” became the motto for quite a few folks. But when you take a closer look at the number of shares Commscope was selling, it was relatively small volume compared to the millions of shares they are holding. And it was small volume compared to the daily volume as well. Apparently, the shorts found a great opportunity to take advantage of the “insider selling” and pressed the short side for all its worth.
Meanwhile, I was saying to myself, “there goes my unrealized profit…” almost every single day this week. And all this because I pledged to hold for long-term. Yeap, nobody ever said holding long-term is easy. It’s really isn’t. Sometimes we have to see profit disappear and then reappear over a period of times. The volatility will drive the most hardened men into a soft gentleman because he realized that he was never in control of anything. And the only way to keep the faith is to accept the volatility and flow with the vision that the science you bought into is going to play a major role in the near future world.
Good news is that price is now at the 89 MA support line.
Did you see the ABC three-wave pattern where length of wave A is the same as wave C? I believe $HYGS will bounce tomorrow or next week.
$LRAD staged a fantastic come-back after being down to near $3 part of the day.
A long tail with a green solid bar holds a high probability of continuing the uptrend tomorrow.
$DMRC, $CPST, $ORBC continued to meandering around with nothing to show for the day.
Oh, by the way, I finally received the dividend from Kingold. Nevertheless, the retraction of its dividend on July 31st still left a bad taste in my mouth.
On the other hand, the dividend came in handy to help me offset drawdown from $HYGS. My port only gave back 0.5%. YTD gain is now at 12.5%.
LRAD, HYGS, DMRC, AMRN, ORBC, CPST (100% invested/speculated)
From my other account:
Still waiting for HC approval news for $FITX to spike. $LRAD is doing fine.
My 2 cents.
Categories: Daily trading Journal