05-04-2015 Journal- $LRAD, $TZA, $LEU, $NUGT, $CERS, $AMRN

You can tell the bull is tired.  The constant struggle with the bear is taking its toll.

DJ-30 daily

While an up day, it was a weak one.  Price gave back half the gain for the day to close.  Let’s see if there is still more gas in the bull tomorrow.

$NUGT opened higher and stayed high in the morning; $KGJI followed the same direction but did a 180 degree reversal soon after.  It was quite disappointing.  What could be the reason for the 23%+ drop last Friday with no news?  If no damaging news, I expected a bounce today.  Instead I got more selling.  Thus, I decided not to fight the mysterious reason for the sell-off and sold all my $KGJI to cut losses.  With $KGJI gone, I added a bit more $NUGT.

NUGT_daily

$NUGT bounced back above the ascending triangle and that is good news.  Again, the formidable resistance is the converged 79 & 89 MA lines above.  If price can take out that resistance, it may kick off a long-term uptrend from here.

$CERS was strong after open so I added some more.

CERS_daily

Earnings will be released tomorrow after close and I’m wondering if I should lighten up tomorrow before the close.

$TZA was down but recovered some before close.

TZA_daily

Despite the two red bars, I’m still willing to take some heat holding this one.  With the bull getting tired, $TZA may bounce anytime.

$LRAD did good today.

LRAD_daily

Price bounced back above the 79 & 89 MA lines with higher volume.

Seeing that $AMRN did not drop further down but was bouncing off the 89 XMA line, I bought back some position looking for a bottom.

AMRN_daily

If price continues higher from here, it is further proof that the 79 & 89 MAs are powerful support/resistance lines.

$LEU dropped a bit but it matter not until shareholder update is released this Thursday.

Thanks to $LRAD, $NUGT, $CERS, my port gained back another 2.4% despite losses from $KGJI, $LEU, and $TZA.  YTD gain is now at 15.4%.

Current holdings:

LRAD, NUGT, TZA, LEU, CERS, AMRN and 11% cash.

My 2 cents.



Categories: Daily trading Journal

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