Market continued to move higher today. One more day of convincing nonbelievers that X’mas rally is for real.
But in my case, my portfolio had a Santa and a nonbeliever working together today; one cancelled the other.
$LRAD, $KGJI, and $AMRN (nonbelievers) corrected but thanks to $INO, $XONE, and $KNDI (Santa), my portfolio was practically unchanged.
$KGJI gave back a chunk of gain from Friday but at low volume; thus, this one still had a lot of nonbelievers to work off.
Notice that price landed right on the 89 XMA line. I like to see price bounces back up tomorrow. Since $KGJI is a fairly large position, the give back is substantial.
Fortunately, $XONE bounced hard today.
Notice how price action took out the previous pivot-high from Dec 4th at $57.65. This is a very bullish bounce.
$INO also had a strong breakout today.
Notice how price action took out TWO resistance lines today- one from Nov 25th at $2.24 and $2.38 from Oct 8th.
Although $KNDI was up today, it was still struggling to stay above the downtrend line.
Price still stays above the 15 MA line and the 79 & 89 are still pointing up; so the overall trend is still up.
$AMRN was down today but this was to be expected after a big 25% up day from last Friday.
Price is still above the Friday low which I see at a positive sign.
Meanwhile, $CERS continued to march ahead.
Price is now closing above all MA lines.
$LRAD correction today confirms that it is now in a consolidation phase b/w $2 and $1.8x waiting for news to bounce.
Any big order news from China will drive this one up over $2 very quickly. Meanwhile, patience is required.
$GALE is also consolidating in a tight range b/w $4.20. and $3.85.
Notice how the 5 MA line is beginning to turn up. Let’s see if there is a bounce this week before the year end.
Since I believe in $TINY to be relevant only in 2014, it is still worthy of mentioning here.
Based on the weekly chart,above, today bounce may signify a bottom here at around $3.00.
While my portfolio is at breakeven point today, the underlying strength is strong in my opinion. Thus, I’m looking forward to the weeks ahead.
Current holdings:
LRAD, KNDI, KGJI, CERS, INO, XONE, GALE, AMRN, TINY (fully speculated)
My 2 cents.
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