The greedy bear made one last pull and took the bull down at the open; but the bull had enough of the BS and climbed back up with such brute force that the bear could not stop the advance no matter how hard it tried.
Price climbed back up in the middle of the tan area which was good. It also didn’t take out yesterday low which was double-good. Now, the bull is set up to move higher; but it needs to take out today and yesterday high first.
Today, all positions on board are in green. I dropped $CERS and bought $INFN and $KNDI. I also added to $AMRN.
$LRAD finally made a small bounce. At this point, any bounce is good.
Price did take out yesterday high so I believe we may see a bottom here.
$DMRC continued to surge ahead.
Price is now touching the 79 & 89 MA lines which are also converging into one. I believe price will simply walk pass this magical lines tomorrow and rally hard in anticipating of next week earnings call.
$ORBC, like $DMRC, has been rallying hard this week despite general market turmoil.
Price is now gunning for $7 resistance.
$AMRN finally broke out of $1 resistance!
I’m glad I added more in the morning. As you can see in the chart, price is forming a smooth slow curve heading back up. It will probably be a slow grinding up from here.
I bought $INFN today for the bounce up. I had bought $INFN in the past but got out too early and missed the rise to $11+ from my 9ish entry point. Now, I see an opportunity to get back in.
Price continued to bounce off the 79 & 89 MA lines.
$KNDI bounced hard after opening lower.
Seeing price took out the opening range, I decided to buy some shares to see if this has leg.
Thanks to all six stocks going up, my port gained 2.4% today and YTD gain at 6.6%.
LRAD, DMRC, ORBC, AMRN, INFN, KNDI and 2.8% cash.
From my other account:
With DOW opened negative and $KNDI opened lower, I decided to close $KNDI position while I still had some gain left. Turned out it was not a good move hindsightwise. However, this mishap was more than offset by my “another” fortune of $IBIO gapping up after I got in yesterday at $1.30+. Without hesitation, I sold at the open to lock in gain once again. Although I did not buy as much as before, i still enjoyed the gain.
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