Without question, the bear had the last laugh today…
From the daily chart above, the underlying uptrend line (blue line) has not been breached yet. It is, however, getting very close to breaching. Price needs to bounce from here to keep the bull in good shape. If not, the next defense is the top of the rectangular box.
Needless to say, my port took a blood bath today as well.
After the open, I sold $KNDI and $CERS positions to cut losses and raise cash. I’m keeping the other three since they all have binary events coming in b/w November and end-of-year. I’ll not be shaken out of these positions.
- $LRAD- potential huge orders from two large cities in the Middle East for the mass notification system.
- $DMRC- potential adoption of the Digimarc barcode system by the major retailers
- $ORBC- launching of eleven more new M2M (machine to machine) satellites by year-end on top of recent launches of six new satellites.
But for now, my port suffered a 5% drop with YTD losses at 2.8%.
LRAD, DMRC, ORBC and 15% cash.
My 2 cents.
Wisdom from Warren Buffet:
“With a wonderful business, you can figure out what will happen; you can’t figure out when it will happen. You don’t want to focus on when, you want to focus on what. If you’re right about what, you don’t have to worry about when”
Categories: Daily trading Journal