The market had another lukewarm neutral day. Perhaps a pause before the bounce for X’mas rally?
Meanwhile, seeing the $NUGT was up, $CUR was struggling but down and $WG couldn’t make up its mind in the morning, I decided to put my available cash into $NUGT.
However, price was under attack later in the day. Let’s see what happen next week. If it continues to go down, I may just let this one go.
I bought a big bag of $PHOT with my other broker account for the long haul. I chose $PHOT over $MJNA because it got the former Microsoft executive to take over the title of President as well as receiving a commitment of $40 million to be used primarily on acquisitions and expansion initiatives in a JV deal.
From the weekly chart, $PHOT is now near the high from earlier this year. I believe $PHOT has the best business model to capture the opportunity in legalized cannabis industry.
Meanwhile, $KNDI made a fantastic come-back for the day. As I had said yesterday, price was so close to the downtrend line that it was only a stone throw away from crossing over. Today, it simply walked over.
Today price action may be a sign that the time to swing trade $KNDI is over. ’cause if you are not careful, price can simply take off without you; leaving you facing the dust while holding a small bag of coin on your hand. I’m commit to holding this one as long as the fundamental stay intact.
From a weekly perspective, $KNDI took out the downtrend line this week.
It is as simple as that.
Despite $XONE, $KGJI, $CERS,, $GALE, and $TINY taking a dip today, the win on $KNDI takes my portfolio higher today; simply because $KNDI is my 2nd largest position on the portfolio. It is a double-edge sword alright; but I don’t mind it at all if it is going in my favor.
Current holdings:
LRAD, KNDI, CERS, KGJI, GALE, XONE, TINY, NUGT and 2% cash.
My 2 cents.
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