04-28-2015 Journal- $LRAD, $KGJI, $NUGT, $LEU, $TZA, $CERS

Today was a game of submarine. First, the DOW would sink under the water after open, then it would float back to the top and see the blue sky.

DJ-30 daily

It was a good save for the bull to climb back the way it did today; but it ain’t out of the wood yet, yesterday high can still be a possible 3rd lower high if the bear takes back the steering wheel the rest of the week.

Because of the drop in the morning, I bought $TZA to short the small cap.

TZA_daily

Although the market rallied after I bought, I decided to hold on to my $TZA position to see if the market will sell-off tomorrow.  Notice the price is still on top of the 5 & 15 MA lines.

$NUGT and $LEU performed quite well today.

$NUGT opened with a bang and just kept going up.  And when it took out yesterday high, I added a bit more.

NUGT_daily

From the daily chart above, price finally broke out of the ascending triangle to the upside.  If price can take out the converging of the 79 & 89 MA lines above, it will be a very bullish signal.

$LEU also rallied strongly today.

LEU_daily

Price formed a cup pattern so far; all it needs to do now is to close higher than the March 24th high of $5.72.  Perhaps tomorrow it will achieve that.  If you look at the other uranium stocks, they are all on fire.  I still kicked myself for not buying $UEC when it was $1.7x.  Oh well, water under the bridge now but am glad I bought $LEU to play catch up.  Who know, it could be a blessing in disguise since $LEU can fly a lot more higher if there are life sign on the American Centrifuge Project.

I took a hit on $CERS today by literally giving back all gains.

CERS_daily

Price kicked off with a persistent waterfall action that I had no choice but to start liquidating along with others before my position went from sitting on decent profit to a sea of red.  Seeing that a lot of other biotech stocks were falling as well, I decided to stay out of biotech stocks for the time being.

Before I got out of $CERS, I bought some $AMRN after price drop at the open due to FDA’s Complete Response Letter (CRL) confirming rejection of the expanded label until the result of the Reduce-It trial is reviewed. And when the DOW started to track lower later on, $AMRN began to head lower to $2 and below.  I decided to cut my losses quickly to take a break from biotech stocks.

AMRN_daily

Price is snow floating on top of the 79 & 89 MA lines.  Let’s see if this support will hold.

$KGJI bounced a bit higher.

KGJI_daily

It closed as a doji bar which could as well be a pause-and-continue pattern since price is still faraway from the overhead resistance to be considered a possible topping formation.

$LRAD  also bounced some today which is good.

LRAD_daily

Price now closed above the 15 MA line.  The overall pattern is still up since mid-March.

Despite bleeding from $CERS, $AMRN, and $TZA today, gains from $NUGT, $LEU, and $LRAD more than offset the losses to squeeze out 1.2% gain for the day.  YTD gain is now at 18.1%.

Current holdings:

LRAD, NUGT, KGJI, TZA, LEU and 25% cash.

My 2 cents.



Categories: Daily trading Journal

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