Today market action reminded me of a boxing match where both boxers were practically leaning on each other shoulders, exhausted to the bone, punching each other at the stomach with little energy they could muster.
I guess at this point the market is waiting to find out if Greece is going to default. No one want to commit until Greece decided. Meanwhile, I’m trying to maintain a decent cash level to either buy more $SPXU when market falls or buy more stocks when market rises on Greece final answer.
It was good to see some cash free-up from the three-days settlement lockup ’cause $CERS opened higher and I wanted to buy more. There were enough cash to double-down on $CERS and I made the bet. Lo and behold, price continued to accelerate higher. If I had more cash, I would have continued to buy more. Oh well. I’m just glad that I could double-down today.
Today rally took out the two recent resistances (April 15th $4.32 and March 20th $4.46) and bumped right on the 89 XMA resistance. Will it lose steam tomorrow? Stay tune.
$AMRN did good today with a green bar that took out the highs of the last five days.
Let’s see if it can bounce more tomorrow. I may add more if cash free-up.
I should have stopped out of $SPXU when price took out yesterday low but I forgot all about it. Since it is only a starter position, I may hold this until Greece’s decision.
However, if price continue to make new low from here, I may just cut losses.
$LRAD continued to head higher and moved further away from the 79 & 89 MA lines which is excellent.
From the chart, look like the next resistance will be around the $2.70 area.
Thanks to $CERS, $AMRN, and $LRAD rallies today, my port gained 2.9% for the day. YTD gain is now at 20.9%.
LRAD, CERS, AMRN, SPXU and 38% cash.
My 2 cents.
Categories: Daily trading Journal