Market played yoyo today. Up above the water and down below the water…
$AMRN opened neutral and then headed lower. And then it headed even lower and before you knew it, a waterfall ensued. For some reason, $AMRN become the most “shortable” stock. I watched on the sideline until price hit $1.60. When I saw that it could not go below $6 and began to bounce, I began to start buying for the bounce. I loaded up on the low $1.6x and price bounced as high as $1.78 before it came back down to mid-1.6x. Oh well, I was still a bit in the money from this morning entry so I decided to hold to see what happen tomorrow.
$KNDI spiked up after the open so I thought today might be the bounce day and I added a bit more. But no luck, price began to sink back down below the lower opening range and I was stopped out. While it bounced back up in mid-day, I decided to leave it alone. Good thing I left it alone ’cause price closed near the low of the day. Let’s see what happen tomorrow. I’ll be watching this one ’cause I want to jump back in when the momo begin to rally again.
$CERS and $NCTY were acting bearish after opening so I unloaded 1/3 position on both of them. Later, $CERS began to bounce so I added back most of the shares I sold. With $NCTY, I only added a small portion back due to its low float status.
Meanwhile, the hero of the day was my $LRAD position. Take a look at the chart below:
Today bullish engulfment looked good. Price closed above both the 5 & 15 SMA lines. Due to the fact the $LRAD is my largest position, the mere 5% increase today carried my portfolio back up nicely.
My $GALE position is holding its ground and seemed to stabilized right in the intersection of the 5 and 15 MA cross. Take a look at the chart below:
The good news is that price closed above the 79 & 89 MA lines. I’ve a feeling price will bounce hard soon.
Next is $KGJI. Take a look at the chart below:
Isn’t it a beauty? Price took out the high of the hammer candlestick bar yesterday and confirmed a possible interim bottom. Once investors realize this one is a real deal when the executives from Kingold comes to the US, price can go much higher. I intend to hold this one for a longer haul looking to capture the price in the teen. All it takes is a couple of strong quarter-to-quarter growth and this one will just keep going up. You know the executives from Kingold is coming all the way to the US just to tell us that their quarterly growth is getting stronger.
$TINY, like I predicted, bounced back up nicely today and thereby kept the uptrend intact. Take a look at the chart below:
Price closed above ALL the MA lines.
Due to strong move on $LRAD, my portfolio recovered nicely from yesterday down day.
Current holdings:
LRAD, CERS, GALE, TINY, AMRN, KGJI, CLIR, APRI, NCTY and 24% cash.
My 2 cents.
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