Market continued to go deeper from yesterday last minute dive.
It was a very NICE surprise to see $TSLA trading much higher before market open. If I was to continue to be in $TSLA, price needed to open higher or I would have stopped out for breakeven or losses since my GTC hard stop was so close to yesterday close. Thanks to the Stock Gawd I wasn’t stopped out yesterday.
As you could see on the 5 min. chart above, price gapped up and I added to my position after reading that Germans cleared Model S in fires. And when the upper opening range was taken out, I added another layer. Thanks goodness I added since price continued to trek much higher afterward.
Notice that on the daily chart above, price is now trading near the 89 XMA which could be a resistance. If price could not penetrate that resistance, I may have to sell early to protect profit. Nevertheless, to prevent a solid gain from turning into losses, I moved my GTC hard stop to breakeven.
$PXD continued to bounce higher after open so I bought a small starter position.
I was debating rather to use the limited fund to add more $PXD but decided against it since price was down due to bad weather condition. We still need to know more about the weather situation before price can make up its mind on direction.
$AMRN filed an 8-K announcing a compensatory arrangement to its R&D chief and its General Counsel if they could be successful in executing the following program:
Under the program, each of these executive officers will be eligible to receive a one-time, special bonus payment in the amount of: (I) $250,000, in the event the Company’s sNDA for the ANCHOR indication is approved by the FDA on or before June 30, 2014; or (ii) $150,000, in the event the FDA approves the inclusion of the clinical data from the Company’s ANCHOR Phase III clinical trial in the Vascepa label for the current (MARINE) indication on or before June 30, 2014; or (III) $150,000, in the event the Company successfully secures a declaratory judgment from a court of competent jurisdiction on or before June 30, 2014 confirming the Company’s ability to inform physicians of the clinical data from the Company’s ANCHOR Phase III clinical trial notwithstanding an FDA failure to approve the Company’s sNDA for the ANCHOR indication by such date. All determinations concerning the above referenced criteria for payment will be made by the Company in its sole discretion.
As far as I’m concerned, this is a communication from $AMRN to the investors that their alternative plans discussed in the recent conference call is in motion. This is good enough for me to add more $AMRN shares today.
I was glad I did since price was able to stay up most of the day without giving back gain. I’m done trading this one so it is now a buy and hold thru-out 2014.
I also added to $TINY this morning but hindisghwise, I added too early since price made a correction today.
Notice price now stopped at the 89 XMA support. I’m also no longer going to trade this one. I will hold this one for 2014.
$CRTO was trading below the 15 MA line this morning so I sold to cut losses. Seeing that $GALE finally had a correction along with the rest of the general market downturn, I took the opportunity to buy back some $GALE with money from the sales of $CRTO.
Looking at the $GALE chart, I’m impressed with the strength of the uptrend. I believe today correction is not enough to stop this rally from continuing. Hence, my willing to buy $GALE despite its already high price.
$XONE continued to bounce higher and I was glad that it had taken out the 89 XMA and is now working on taking out the 15 and 79 MA lines.
It looks like it is doable to take out the two MA lines tomorrow.
$CERS corrected quite a bit today.
If you look at the daily chart closely, you will notice that price bounced off the down-trend line after a day or two of penetration. While I do not like the look of the chart, I’m still bullish on the fundamental story; thus I’m still holding my shares.
$LRAD, while slightly down today, is still holding its ground.
I like the fact that price bounced off the daily 5 MA line today.
Meanwhile, both $CUR and $KGJI were still struggling to keep from falling off the cliff. I’m still holding.
Thanks to gain from $TSLA, $XONE, my portfolio was close to neutral for the day despite giving back gain from $CERS, $KNDI, and $LRAD.
LRAD, KNDI, CERS, KGJI, TSLA, XONE, GALE, AMRN, TINY, PXD, CUR and 0.3% cash. Basically, I’m 99.7% invested.
My 2 cents.