Market tried hard to bounce back up but by mid-day it went out of air and collapsed back to the starting gate before diving into the water.
$NUGT opened down and lucky for me it didn’t gapped down way passed my hard stop; instead it opened near my hard stop and got me out at breakeven. So much for my prediction of a potential bottom.
As you can see on the daily chart above, $NUGT penetrated the last historical low and proceeded to head even further down. This one looks like it has further more downdraft to go based on today momentum. Moving on.
$TINY looked like it was busting out of the last resistance from July and August of this year.
Thus I bought some position looking for a breakout play. It didn’t hurt that management issued an update regarding its intention to drive its NAV up. Perhaps, 2014 may be the year for $TINY.
$AMRN opened higher and I, again, for the umpteen times, got sucked into the bounce.
Well, at least, we have a higher high and a higher low today. I must admit that I’ve a feeling that there may be a buy-out down the line that could allow me to recoup somewhat. And to do that, I’ve to be in a position. Thus, I bought a mid-level starter position so I can buy and forget. I’m no longer thinking of recouping my total $AMRN losses or even try to make money off this one. I just want to be in any big surprise rally that will allow me to recoup some of my losses. The psychological pain of missing a surprise rally from this low level price can be more painful than the actual losses I’ve taken on this trade. Now, you know why I’ve bought back in for some position.
$RBCN traded below all the MA lines early in the day so I decided to sell my shares when I could still get out at breakeven.
While price bounced back later in the day, $RBCN still has a lot of work to do to get back into an uptrend momentum. After today, it now needs to climb over the 15 and 79 MA lines.
$KGJI opened higher but traded lower to close on low volume.
I’m expecting some kind of tax selling in December before price bounces back. I intend to hold thru the possible tax selling instead of sell now and buy back later simply because the volume is low and it is hard to buy back shares without driving the price back up.
$KNDI continued to dance around the trading range of $6.7x and $7.2x. And I’m continuing to hold.
There may be more tax selling or maybe not; it all depends on if there is any significant news b/w now and end of the year.
$XONE did good today by heading back above the 89 XMA. So far so good.
Now it needs to go above the 15 and 89 MA lines. The good news is that I’m back in the black on this trade. Onward to $100 roll!
$CERS managed to get out of its downward bias today by climbing back up to close above the downtrend line.
Did you see how price bounced off the 5 MA line?
I’m getting very close to getting stop out of $TSLA today. If price do not bounce up at tomorrow open, I may be stopped out.
Did you see how close price traded near the 5 MA line? My GTC hard stop is right below that line.
$CRTO is falling back into a trading range.
If price trades below the 15 MA line, I may just cut my losses.
$CUR is still fighting for a potential breakout.
I like the fact that price bounced off the 5 MA line. From the look of the chart, you can see that there is still some possibility of a breakout.
$LRAD was able to hold its ground against some selling today.
It actually closed a bit higher which was good enough for me.
Due to giving back gain on $NUGT, $KNDI, $KGJI, $TSLA, and $CRTO, my portfolio went down slightly.
Current holdings:
LRAD, KNDI, CERS, KGJI, XONE, CRTO, TSLA, TINY, CUR, AMRN and 11% cash.
My 2 cents.
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