Market continued to move higher after a pause yesterday.

Look like we have another rally May instead of a “sell in May and go away” month.

Today I sold $AMRN to lock in gain as well as some $BIOS.

I sold $AMRN ’cause there was no follow up to the rally yesterday.  Not long before close yesterday, there was a high volume sales that was as large as the afternoon spike which sparked my interest in buying more.  After noticing the big volume sell off, I concluded that the original large order spike must had been an input error on the part of the trader/fund.  Before closing, I’m guessing that the same trader/fund must have dumped the shares to correct the error.  With this assumption, I sold $AMRN when I found price could not hold $1.47 after some attempts in the morning.

By day close, $AMRN formed an inside bar which could be either a pause to the upside or a potential topping before heading back down.  I’m staying on the sideline for now.

Seeing that $BIOS could not move much in the morning and the S&P500 was struggling to stay positive, I decided to sell off the $BIOS position even though I thought it would be a good bounce from here.  If the market correct, $BIOS would surely go down quickly with it.

I was proven wrong when price took out the opening range to the upside.  Upon seeing the breakout, I bought back 50% of my original $BIOS shares.

Price closed with a doji bar.  Let’s see if this is a pause bar or a setup for a reversal.

$DMRC bounced back some today as well as $KGJI.

I like to see today pattern as a confirmation of $KGJI starting the 3rd wave of the 5 waves Elliott Wave pattern. In other words, $KGJI is going to take out the resistances ahead and rally hard since the 3rd wave of the Elliott wave is usually the longest wave of the 5 waves pattern.

Despite minor corrections from $LRAD, $SEED, and $DNN, gains from $DMRC and $KGJI more than offset the losses and my port remained slightly positive (close to breakeven) for the day.  In summary, my port did not move much today except to stay on the positive side.

Current holdings:

LRAD, DMRC, KGJI, SEED, BIOS, DNN and 20% cash.

From my other account:

Since I didn’t have $FITX to tie up my cash, I decided to venture in $NVLX. I’d been eyeing this one for awhile but didn’t want to get in until the downtrend was stabilized.  Today was the second up day since the downtrend so I thought it was time to get in.

Price today closed at the 89 MA resistance line but was above the resistance from April low.  If price can take out the 79 & 89 MA lines from here, $NVLX will be heading back up with the possibility of not coming back to this level ever again if their “cell-in-the-box” technology proves to be effective.

$FITX corrected some today.  Even though I don’t have any $FITX now, I’ll be watching it on the sideline.

My 2 cents.

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The market took a pause today to enjoy the view of the new frontier…

Here we have an “almost” doji bar.  We’ll find out if this a a pause doji or a topping doji by the end of the week.

Today, I had to take a big losses from my $SVBL position ’cause it broke thru below the $0.30 support and I was just getting tired of sitting on dead money for too long.  Ever since I bought $SVBL I had been sitting on red for most of the time I held this stock.  Not only was it not performing, it was tying up money I could use elsewhere.  Thus, when price broker below the $0.30 support, I knew what I had to do.

At first, I unloaded 1/3 of my position and held onto the rest.  Later, when I saw others were dumping as well, I began to unload another third when the bids were still there.  Somehow, once I got the momentum to unload, I felt the urge to unload the rest.  And so I did.  Even though I knew I was taking bigger losses by hitting the bids that were there, I was just glad to be rid of it.  I also knew that I could make my money back by putting the money into more performing stocks.  I figured I probably lost 30% of my principle in this $SVBL position.  Oh yeah, now that I was out, I’m sure this stock will now fly off to the moon. Why do almost everyone thinks like this?

See how price broke thru the long-term support that went all the way back to March of 2013.  For all intent and purpose, I did what I had to do based on one of my trading discipline- cut losses, regardless of how much losses you may end up with, when price broke thru long-term support.

I used some of the proceed to buy more $BIOS.

$BIOS broke thru the long-term resistance and stayed above it.  I wanted to add more so I used the proceed from sales of $SVBL to buy more.  If $BIOS management can grow revenues from here, I can easily make back money I lost from $SVBL.

I also sold $CLDX to lock in profit and to use the fund to buy more $AMRN.

$AMRN spiked up hard in mid-day as you can see in the 5 minute chart above.  Although there were a similar high volume sell-off near the end of the trading day, it was not enough to tank the price back down to the opening range.  Let’s see if there is continuing momentum tomorrow.

Thanks to $SVBL, my port dropped 2.6% today.  YTD gain is now 4.4%.

Current holdings:

LRAD, DMRC, AMRN, BIOS, KGJI, SEED, DNN and 2% cash.

From my other account:

While witnessing the continued rally of $FITX since I sold, I steadfastly refused to chase it.  Oh well, either I missed this boat or I save myself the headache of a gapped down stock price in the future.

My 2 cents.

 

 

 

 

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Up Up and Away Part 2.

Did you see today bar on the chart?  It sure looks like a wide open space in the new frontier.

I used the last remaining cash to buy $BIOS today.  I’ve been eyeing $BIOS on and off and I believe now is the time for me to take a position for a ride back to the top.  $BIOS has been working on creating synergy in their acquisitions and I believe they’ve finally succeeded in doing so.  Their recent earning transcript convinced me that they are now on the path to profitable future.

Based on the chart, today price action took out the resistance during the day.  Although I bought in after they took out the resistance, price fell back below resistance at closing bell.  Nevertheless, I’m continuing to hold for more bounce down the line.  Also, notice that the 79 & 89 MA lines are now converged together into one with price closing above it today. This is very positive chartwise. This may also be a long-term hold if management can keep growing their business.

$FSLR disappointed today with a  low percentage increase so I sold it for small profit and moved the proceed over to add more $AMRN, $CLDX, and $SEED.  I’m now back to 100% invested/speculated.

Except for $SVBL and $SEED which turned slightly negative for the day, the rest of my portfolio enjoyed gains which pushed my port up 1.3%.  YTD gain is now 7%.

Current holdings:

LRAD, DMRC, SVBL, KGJI, SEED, AMRN, CLDX, DNN, and BIOS (100% invested/speculated)

From my other account:

I’m still holding off from going back into the cannabis market.  I’ll wait and see.

My 2 cents.

 

 

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