With $CCJ recovering, it is time for $DNN to play catch up. We are getting close to the point when the uranium supply from the Russia will come to a slow drip due to expiration of the on going US-Russia HEU (highly-enriched uranium) agreement in 2013.
The chart below looks like it is ready for a bounce.
I bought a starter position in the morning and later added more to double-down on the bet.
My 2 cents.
Comments »$CERS is one my “chase” stock from Monday and I’m still riding the rally on this one. Price action is now near the previous high of $5.43. A breakout of this resistance from here without any consolidation will form a left-hand cup & handle breakout pattern. Yes, you’ve heard it right. I don’t know if there is such a thing as left-hand cup & handle pattern in the stock chart book; if not, then I’ve just invented one.
Take a look at the chart below:
Momentum is still strong with momentum indicators still point up and not yet at the over-bought level yet.
Fundamental speaking, $CERS is already selling their blood “cleaning” system outside U.S. It is currently working with US FDA to gain approval for sales here. As the sales start to grow outside US with the possibility of gaining US market in a year or two, the potential for $CERS will show in the price action sooner if not later.
Depending on price action in the near future, I’m still debating if I want to keep this one as a position trade.
My 2 cents.
Comments »I like $DUST for its power surge yesterday and I think the run isn’t over yet. I missed the chase yesterday and today retracement in the 3m chart gave me an opportunity for a bounce play with small risk.
I bought a starter position @ $103.xx and placed a stop below the recent pivot low. See line on chart.
My 2 cents.
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Today was a day to roll-the-dice.
Market opened down and then forged ahead with a hiccup during the day.
Meanwhile, I was, again, shaken out 80% of my $GLUU position when it turned south on the get go. Out of pure habit, I just dumped my $GLUU in block as price tanked. Later on, when I wasn’t looking, price action took off to the upside. Not to be cheated out of my position, I bought back 80% of my original position at a higher price. I like $GLUU as a potential long-term position; but I’ve yet to make up my mind. The future is all about tablets and mobile phones; I don’t see it any other way. $GLUU is all about gaming in mobile devices. The other side of the coin is that competition is fierce; nevertheless, $GLUU has a brand and experience.
I’ve a hard stop on my $KERX position and it was taken out. Glad to rid of it ’cause I don’t like to see my swing trade position to be in red for too many days.
$MNKD finally made my “chase” two days ago worth the effort. It took off big and I added more after it took out the $5 resistance. When the normal retracement after the initial burst was done, I added some more in the low $5.xx area. $MNKD is a high risk trade at this point for it is still waiting for FDA approval for its insulin inhaler. This could be a big winner if they can get FDA approval; who want to use needle for insulin if they can inhale instead?
$FB is reminding me of $SZYM. Price just would not take traction on the upside. When price took out the low of two days ago, I put a stop below the intra-day low to cut losses if the bounce failed. The bounce failed and I was stopped out. Moving on.
$NVAX was also another one that went the wrong way. Instead of putting a stop near intra-day low which would guarantee a filled, I decided to give this one a bit more time by placing a GTC stop below the trendline. If it bounces tomorrow, I will be fine.
I was watching $AAPL waterfall and kept telling myself it was too late to short. However, when price took out the 50% fib retracement, I decided to short since my risk would be above $425.00, a tight stop literally. Well, to my surprise, price took out the $425 level and I was stopped out. When price continued upward, I took that the $425 Fib 50% line support was still in effect. So I bought some with a stop below $425.00. By market close, seeing that price did not do a waterfall, I added more hoping for a big bounce tomorrow.
Well, $AMRN had a hiccup today and my portfolio suffered a minor bump as a result. Oh well… I can’t help but notice that my portfolio contains quite a bit of high beta positions. Eventually, I will either get to see my stock god with my head on the block or sit on the white cloud with a big smile on my face. Hmmm….
Current holdings:
AMRN, LRAD, TINY, CERS, MNKD, GLUU, AAPL, NVAX and 30% cash.
The trades I made in the journal were time-stamped in twitter
Comments »$AAPL has taken out the Fib 50% retracement @ $425.00 instead of bouncing off here. A failure of a Fib support is as significant as a bounce off it. It may be too early to say that the 50% retracement fails at $425.00 when there are still time for $AAPL to bounce back up above that line. However, any further drowndraft away from the $425.00 line will signify a Fib 50% support failure.
I’ve initiated a small starter position (using stock and put option) based on this thesis and will see how it fairs by the end of day. If price comes back up above $425.00, I will cover and take my small losses.
My 2 cents.
Comments »Today was a “gotcha” day.
Market opened higher and never looked back.
Out of the four chases I bought yesterday, $CERS and $CUR were doing good. I took profit on $CUR when the daily price bar looked like a shooting star in development. Although it hadn’t been confirmed by tomorrow price action, I decided I didn’t want to wait around for it. So I took my money and run. However, $CERS bar looked strong and solid; therefore, I’m holding this one.
Seeing that $MNKD and $KERX were struggling in the morning, I placed a stop losses order on both of them below the intra-day low for protection in case the downdraft persisted. Fortunately, I wasn’t stop out for neither of them.
After browsing the charts, I bought $GLUU, $FB, and $NVAX for the swing trade. By day close, I’m only taking small heat from these positions. I’m going to give them a day or two to see if price action will take traction to the upside.
$AMRN, $LRAD, $TINY continued to rally onward; together with good price action on $CERS, my portfolio continues to march forward.
Current holdings:
AMRN, LRAD, TINY, CERS, GLUU, FB, KERX, NVAX, MNKD & 30% cash.
The trades I made in the journal were time-stamped in twitter
Comments »$NVAX chart also shows a bounce after touching the uptrend line.
Take a look at the daily chart below:
Both momentum indicators are now point up along with the 5 ma line.
A bounce is possible at this point; hence, I bought a starter position. This is also my prefer play in light of the bird flu situation.
My 2 cents.
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$FB chart looks like it is making higher low if we can get a bounce from here.
Take a look at the daily chart below:
The over all trend is still up and a bounce may be in the card.
I bought $FB looking for a resumption of the uptrend to take out the high @ $32.51 established in Jan 28th.
My 2 cents.
Comments »$GLUU looks like it is repeating price action movement of early April. A dip below base line of $2.75 and a bounce back to the upside. Meanwhile, the 79 moving average line is trending up slowly.
Take a look at the chart below:
Both momentum indicators are also pointing up.
I bought a starter position and added more afterward.
I like to see price heads back up to the last pivot high of $3.25. Not expecting a big move, hence breakfast only.
My 2 cents.
Comments »Today was a lack of conviction day.
Market open negative but that was just the outer appearance only.
However $AAPL looked strong pre-market so I was ready to “get-the-hell” out of my put option at market open. Lo and behold, $AAPL opening price actually dropped at open so I was able to get out with only a scratch. Whew!
$MNKD looked strong pre-market even after a strong Friday up day. After reviewing the chart, I can see more potential on the upside; therefore I decided to “chase” this one. I bought starter position not too long after open.
$CERS opened strong and I wanted to buy in. But the price was high at open so I waited. I didn’t have to wait long since price dropped back down to the low $4.9x rather quickly. I took the opportunity to buy a starter position and then continued to add as price climbed. I am in the money by end-of-day. Let’s see if I’m corrected to buy this one when tomorrow comes.
Since $AAPL opened strong, I bought a starter position. But being mindful of the negative DOW, I placed a stop order below intra-day low and it was taken out soon afterward.
I also placed a stop order on $IMMR below Friday low and got stopped out as well for small losses. Unlike The Fly who believes in $IMMR to the core, I did not have the conviction to hold. By end of the day, The Fly wins again on $IMMR. His conviction is strong and unparalleled.
Regarding $SZYM, please read my previous post since I covered my trading log there. The quick summary is simply that I didn’t have the required conviction to hold this one thru volatility.
I stumbled on $CUR during chart browsing and I liked the cup & handle chart formation. Price action looked like it wanted to go break out soon so I bought a starter position and later added more.
$KERX also looked promising and I had been watching this one for awhile. I finally bite the bullet and bought a starter position. By end of day, I am in the money. Thank you!
Except for $AMRN who continued to rally nicely today, I did not have a banner day like The Fly or others. My portfolio gain today was modest. However, my portfolio is a sum total of my decisions and I feel that, in due time, I will have my days. Both $AMRN and $LRAD will be the highlight of my portfolio by year-end.
While the rabbits are running fast and fury ahead of me, I’m a tortoise who just keep on moving despite some minor setback.
Current holdings:
AMRN, LRAD, TINY, CERS, CUR, KERX, MNKD and 37% gain.
The trades I made in the journal were time-stamped in twitter
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