The market continued to bounce some today.

While it was not a big rally like the last two days, it was enough to keep the bull momentum intact.

For some reason, I got the distinct feeling that today the bull was developing into a base.  Thus, I began buying back some positions for the long-side going into the long weekend.

I started by adding more $DMRC.  Then seeing that $KNDI bounced off the long-term support at $11.00 area two days ago, I “felt” it was the right time to buy back some positions.  I’m also stroked by last Monday news that Shanghai is going to launch the public EV car-sharing system pilot project.  In a “normal” market day, this news might create a gap-up situation but current bearish climate neutralized the new info as if it was nothing.  I see this as an opportunity to buy back some now.  Let’s see if $11.00 can hold the support; if not, I may have to cut and run to stop the bleeding.

See how the support extends all the way back to beginning of January?

I also bought back $GWPH which I’d been trying to buy (and stopped out) previously.  However, I was sensing a bounce coming so I bought a starter position to see if it bounced this time.  It did so far.

Like $KNDI, the support extends all the way to early January as well.

$SEED was also bouncing from yesterday small green bar.

I started buying $SEED after the open to build it back to about 70% of my original size.  Price closed above the 79 & 89 MA lines  and it looks good.

I like $FSLR here ’cause there is a support that extends back to November of last year.

If the support holds, I may add more.  I like $FSLR ’cause it was the only solar stock that did not corrected like all other solar stocks.  In fact, while others were sliding down, $FSLR was actually on the up and up.

I added to $DMRC ’cause I saw the possibility of price taking out the resistance from late March.

Price did took out the resistance.  Let’s see next week can keep up with the upward momentum.

I also bought $CARA but price didn’t do much; so let’s if it will bounce next week.

Thanks to rallies from $LRAD, $DMRC, $KNDI, $SEED, and $GWPH, my port regained yesterday losses.

Current holdings:

LRAD, SVBL, DMRC, KNDI, FSLR, SEED, GWPH, CARA and 35% cash.

From my other account:

$FITX released news that added more weight to its goal of being the largest legit medical cannabis producer.

Due to its positive effect, price rocketed up 20+%.  As a result of the news, I added more $FITX as well.  Did you see how price bounced off the 79 & 89 MA lines?  Magical!

My 2 cents.

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Market finally bounced today!

Wow! Did you see that price bounced off the 79 MA line?  Magical!

The morning didn’t exactly started out with a big bang going straight up, the bear actually tried to push the bull head under the water but only succeeded for about half-an-hour. The bull, after having suffered a moment of weakness with the bear’s taunting, finally realized that it could use its horn to gore the bear stomach.  Ouchwee… the bear let go of the bull and the bull bounced right back up.

Sensing the bull attack, I started to buy back starter position on $CARA and $SEED.

The chart above shows that $CARA could bounce from here.  I like to see price takes out the resistance around $20.50ish.

Since I’ve been eyeing $GWPH, the surprised lower open gave me an opportunity to buy back some on the cheap.

The green bar after a near doji bar could be a formation of a bottom.  The next few days will be telling.

I like the higher open of $NUGT and added a bit more.

Price closed above the high of two trading days ago and is looking good for the next leg up to take out the 89 MA line. See how the 5 MA line is turning up along with the stochastic indicator below.

Thanks to the gain from $GWPH, $NUGT, and $CARA, my port was able to reduce the bleeding from $LRAD and $SVBL.  Ironically, the two new buys acted as a hedge instead of the $TZA which I sold yesterday.

Current holdings:

LRAD, SVBL, GWPH, NUGT, SEED, CARA and 55% cash.

From my other account:

$MCIG made a dramatic come-back today.

I knew that if yesterday high was taken out, price would go higher.  Glad I bought my shares back yesterday even though I got stopped out earlier in the day.

$FITX remained defensive but that is expected giving that the facility is still in the process of being completed.

My 2 cents.

 

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Market couldn’t make up its mind about being a down day today; it tried to go down but last hour rally brought it back to neutral zone.

As you can see, price is still right at the resistance point of previous high. Tomorrow job report will determine the final outcome.  A breakout to make new historical high or a breakdown for a possible bear market.

Due to the initial downdraft of the market, I added to $TZA and $FAZ.

As you can see, $TZA had a nice bounce and it served the purpose of hedging my portfolio since $LRAD was in negative territory.

$FAZ didn’t have the same bounce due to the late rally by the close.  Thus, my close stop at breakeven was hit and I was stopped out.  I chose to put a stop on $FAZ and not on $TZA ’cause I didn’t want to be too over-weighted on short ETF due to the job report tomorrow.  I can handle $TZA going against me but not both.

While most of the stock lists on my quote machines were in red, $SEED was showing resiliency in green.  Thus, I bought back 25% of my original size for a possible bounce.

I like the fact that the 5 MA line is now pointing up.  If price bounces from here, I’ll continue to add.

I’ve wanted to buy $GWPH when I found out about the stock but did not want to chase its high price; thus recent correction had given me the opportunity to buy some today.

Did you see how price formed a near “doji” bar right at the 79 & 89 MA lines?  Seeing the support there, I bought a position looking for a bounce.

Thanks to gain on $TZA, I was able to hedge against the downdraft of $LRAD; thus my port was a solid breakeven for the day.

Current holdings:

LRAD, TZA, SVBL, GWPH, SEED and 42% cash.

From my other account:

$MCIG took another tumble and the chart did not look good at all.

See how price close below the 79 & 89 MA lines?  Despite the poor chart outlook, I’m still holding this one for the fundamental story.  $MCIG will be launching the vita-cig in late April and any good feedback on this launch will drive the price up.  They are also looking into vaping alcohol.  Is it even possible?  Well, if people can sniff glue to get high, I guess you can sniff the “alcoholic vapor” to get drunk as well…  ok.. not sniff, but to inhale thru the mouth using $MCIG alcohol vapor-stick- same principle whether you inhale thru the nose or the mouth..  I’ve to give $MCIG points for creativity.  And if this alcohol idea can gain even a small traction, lo and behold, the sky is the limit.  Now, you know why I’m holding this one waiting for the fire-cracker to start cracking…

$FITX remained neutral waiting for the facility to be complete and the approval of license from Health Canada.  As far as I’m concerned, $FITX will get the license so I’m still holding.

My 2 cents.

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