04-22-2015 Journal- $LRAD, $AMRN, $SPXU, $CERS

Whoopie doopie the DOW regained yesterday loss.  I bet tomorrow it is the bear turn to rule the day. A note to self: short the e-mini SP500 tomorrow morning…

DJ-30 daily

Despite today green bar, the trend is still sloping down if you walk down the highs of the last five bars. The bull still has a lot of work to do to stop the bear momentum.  There is still a chance that the high from last Thursday could still become the 3rd lower pivot high.

$NUGT was under-attacked from the get go and I had no choice but to sell half of my position after the open to reduce risk and slow down the bleeding. Thinking that it could bounce right back up just like yesterday, I allowed myself to be careless and watched the remaining position taking in more water than necessary.  Biting my tongues, I sold the remaining position before it got worse.  I wasn’t going to buy the bounce due to the strong waterfall action; but when the five minutes chart began to show a slow-down with a green bar at the bottom, I took a chance and bought back some for the bounce.  I was stopped out.  I left it alone afterward.


Price is now heading toward the bottom part of the ascending triangle.  If it bounces from the upward slope line, I may try again.  I believe if Greece default on their loan, reaction may be worse than expected. If the high up could underestimate the impact of not bailing out Lehman Brothers; do you think they could underestimate the impact of Greece’s default as well?  Anyway, I took a hit on $NUGT losses due to my taking in the full-size position yesterday.  Moving on.

Seeing that the DOW was heading higher after climbing out of the water, I decided to reduce my position on $SPXU back down to starter position.  It was a small hit compared to $NUGT.


If price continues to head south tomorrow, it will breakout to the downside from support. If that is the case, I will sell the starter position.

$CERS found strong support at $4.00 so I decided to buy back a starter position.


If price bounces from here, I’ll add more when cash becomes available after the three days settlement.

$AMRN was neutral much of the day but I added more to begin accumulation.


Price is still next to the blue trend line and is still inside the consolidation range.  As you can see on the chart, there is strong support at $2.30 as in $CERS having strong support at $4.00.

The hero of the day is $LRAD.  Price finally broke out of the consolidation range and traded into the 79 & 89 resistance.  A penetration of the 79 & 89 MA lines tomorrow will confirm a solid bullish force behind the momentum.


So far, the current uptrend looks healthy.

Thanks to $LRAD’s spectacular rise, the gain was more than enough to offset $NUGT losses with my port gaining back 1.4% for the day.  YTD gain is now at 18%.

Current holdings:

LRAD, AMRN, SPXU, CERS and 45% cash.

My 2 cents.

Categories: Daily trading Journal

Tags: , , , ,

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