The market bounced right off the 15 MA line as if on cue.

If price can close higher than today high next week, the bull is still in charge.

Anytime a short-term MA lines like 5 and 15 can act as support, it usually means the bull is still in full force.  What we have is a healthy correction the market needs to take a breath.

Today price action on $GALE reminded me of my sloppiness.  I was looking purely on chart and forgot to consider the fundamental reason why $GALE was down since January.  It only took a reminder from Adam Feurerstein to put some sense back in every head.  Needless to day, I paid for my sloppiness with a larger than expected losses since I added more in the morning.  Oh well, lesson is learned and I’m moving on.

$BIOS could not hold on above $8 so I’m actually taking heat on this one.

From the chart, the 15 MA line served as a good support for now.  Let’s see if price can bounce next week with the 15 MA as the launching pad.  I added a bit more in the morning to round up my investment size.  Hindsight speaking, my impatience had put me in disadvantage position on this stock.  If the 15 MA support hold, I’ll hold onto to the position; if not, I’ll have to decide if I want to take my losses and move on.  However, I’ve a feeling that if the general market is rallying next week, $BIOS will bounce as well.

$AMRN bounced slightly but still stayed on positive upward direction.

Although we had a new high from yesterday spike-up day, I consider the resistance is the high of two days ago at $1.56.  I added some more this morning to round up my investment size.

$KGJI was down slightly today.

Price is still trading inside the consolidation range here.  This stock has strong fundamental so I’m going to hang on to this for awhile with my eyes on the consolidation range.

$LRAD bounced nicely today.

Price is now trading at the edge of the upper consolidation range which also happens to be where the 79 & 89 MA lines are.  It looks like price action is setting up for a strong bounce from here.  Let’s see if this is the case next week.

$DMRC continued to bounce higher.

However, price is now banging its head against the resistance from Tuesday high (6/10) of $33.24.  I feel that it can be easily breached to the upside if the general market continues to bounce.

Thanks to the rally of $DMRC and $LRAD, my two largest position, my port was up 0.55% despite losses from $GALE and minor corrections from some positions.  YTD gain is now 4%.

Current holdings:

LRAD, DMRC, SWIR, KGJI, BIOS, NMRX, APRI, AMRN and 5% cash.

From my other account:

$TRTC corrected some today.

Price found support at the 5 MA line.  I’ll have to decide what to do with this position next week.

My 2 cents.

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Market continued higher; but I’m sensing a bit of wearisome here…

Nevertheless, it is only the first day of the week, let’s see where price goes the rest of the week. I’ll be cautiously optimistic from here.

I didn’t have too much cash free up from the three days settlement so I used what I’d available to buy back some $AMRN I sold Friday since price just won’t drop back down like it used to.

Price looked strong from the chart but it is now banging its head against the downtrend line.  However, if price takes out the high of $1.53 from May 28th, I may add more. While I sold too earlier before, I’ve to look at it from a new buyer’s perspective in order to jump back in.  If I was to “regret” my past action, I might not be able to buy back in.  Thus, it is important that we let the past be the past and look at each trade with a fresh eye even though you’ve just cut the trade.  It is all about catching the momentum and flow with it.  It is NEVER about catching the bottom or selling at the top.  Although sometimes catching the bounce at the right time may make it look like you have caught the bottom, the reality is that they are just coincident.

$LRAD continued to struggle in the consolidation range.

In the absence of news, price will be hanging around this area for awhile.  However, I like the fact that price is now climbing back above the 79 & 89 MA lines.

$DMRC bounced some more today.

Price is now climbing back into the 79 & 89 MA lines which, to me, is very positive.  Tomorrow, $DMRC’s Digimarc Barcode will be a showcase at the Food Marketing Institute (FMI) Connect 2014 being held June 10-13 in Chicago, IL.  Let’s see if this will move the stock this week.

Due to $LRAD correction, it offset the gain from $DMRC almost perfectly.  Thus, my port was even for the day. YTD remains at 3.3%.

Current holdings:

LRAD, DMRC, AMRN, and 42% cash.

My 2 cents.

 

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Today is a “Wow” day!

Look at the chart, “Wow!” is all I can say…

But before the “Wow” was to happen, the market actually went down not long after the open.  Thus, I went short with $TZA with a tight hard stop below the intra-day low. Needless to day, I was stopped out for small losses.  It was a good thing I had a hard stop close by; otherwise, I would lose a lot more than I want to if I didn’t pay attention.

Afterward, I looked for candidate to go long now that I had a clean port with plenty of cash.

I selected $CLDX ’cause the chart looked like it was ripe for busting out to the upside.

However, I used a close hard stop below intra-day low to protect myself in case the rally is short-live.

Next, I bought some $CLD for the bounce play as well.

While I was late to the table, the strong upward bar that took out the high of the last ten days reflected a lot of strength in today movement.  As in $CLDX, I also used a tight hard stop below intra-day low in case the rally lost momentum.

I also bought $CREE ’cause today doji bar was finding support at the 15 MA line and the 5 MA was coming to meet it.

I was looking for the 5 MA to turn back up after meeting the 15 MA line.  If price does not bounce from here, my tight stop below yesterday low will take me out for a small losses.

That was all I was willing to do today to test the water.

$DMRC recovered nicely today.

If price can bounce from here, current support has foundation that goes all the way back to February of this year.

$LRAD dropped significantly earlier in the day but recovered nicely by day close with higher than average volume.

If price can take out today high tomorrow, price may head back up above $2 easily.

Thanks to $DMRC recovery, my port also gained back 0.60% point.  YTD gain is now 2.1%.

Current holdings:

LRAD, DMRC, CREE, CLD, CLDX and 32% cash.

My 2 cents.

 

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Market continued higher- like seven days in a roll (except for one tiny pause couple of days ago.

Wow, that was as bullish as the market can get.  Can the market break its five years cycle of rally and turn 2014 into a six years bullish run for the first time in 21st Century?  Remember, we are the ones who define the rules; whereas market will go where it pleases. Think about it, if you don’t have your money in the market, where else can you put your money?  CD in banks?  Money market?  Real estate?  There is really not much of a choice.  The stock market is the only next best thing to combat inflation. Yes, inflation where our Gov’t tells us there isn’t one. Housing price, gas price, and food prices are all creeping up.  Ok, cost of computer hardware are going down, whoopee doopee; but that is not essential to survival.  All costs related to essential survival are going up and will continue to go up as the population continues to expand in a world where the average lifespan is much longer than our parents and grandparents.

What about the collapse of the momo stocks/Nasdaq for the last two months?  Isn’t that a “forewarning” of what is about to happen to the general market?

Good question.  Sure, there is a “probability” of that happening.  On the other hand, there is also the probability that the correction of the momo stocks are simply the market cleansing itself out so that it can continue its ascent.  Think about it.  Comparing to history, the recent correction of the Nasdaq/momo stocks for TWO MONTHS straight failed to bring down the general market according to the “Nasdaq leading the general market trend” thesis.  Instead, the S&P500 was able to fight the Nasdaq gravity pull and started to head back up to make new high while the Nasdaq is still fighting to head back to the previous high.

Take a look at the daily Nasdaq Composite Index chart below.  I’ve highlighted the consolidation range based on what the immediate pivot highs and lows after Nasdaq made new high on early March.  This is the same formula I used to highlighted the SP500 consolidation range you see above.

Notice how the Nasdaq had collapsed below the consolidation range, bounced off the 79 & 89 “magical” lines, and then broke thru below the 79 & 89 MA lines by mid-April to find support at the previous trend low at beginning of February.  Meanwhile, the SP500 was able to stay inside the consolidation range most of the time with a short-term dip below the consolidation range in mid-April in sympathy to the Nasdaq drop but that was the extent of the Nasdaq pull.  The SP500 bounced back up above the 79 & 89 MA line and into the consolidation range immediately after the dip and began the ascent back to the top of the consolidation range while the Nasdaq continued to be affected by the gravity pull during the same period.

Now, after reviewing both charts (SP500 and Nasdaq), Who is leading who now?

Based on the old “Nasdaq leading the SP500” thesis, the SP500 would not be making new high; it would be making new low.

But that isn’t the case right now, Isn’t it?

Folks, we are entering into a new era where it may be more productive to follow the general market trend instead of making prediction of coming doom and groom ’cause of the five years cycle established in the past.  You really cannot apply the past to current market condition ’cause there were no QEs for such an extended periods in the past.  The whole mechanism of the market has evolved to the point where the past is the past and new rules are being formed per current market environment.

The dynamic of our population increase demands that the market continues to stay healthy.  Otherwise, the consequence of a market crash will be ten-fold worse than the past.  The world knows it and will do everything to prevent a world-wide market collapse for the consequence will be unbearable.   The collapse in 2008 gave the world leaders a glimpse of the monster that could set the human race back in time.

All things considered, I believe we are setting the base here as the next support when the market correct in the future.  In other words, I believe the market will continue to head higher from here and current level is where the base is for the next correction to find support.

Enough of my market philosophical 2 cents…

I added to $BIOS today ’cause price opened higher and moved higher.

Now, that is a nice looking bullish pattern there.  I need to hold on to this one for the ride up.

I bought back $AMRN when I found out that the House Fiscal Year 2015 FDA Appropriation Bill & Report includes the following:

Special Protocol Assessment Agreements.—The Committee is concerned about questions that have arisen in connection with the rescission of a Special Protocol Assessment Agreement (SPA), including fundamental questions concerning FDA’s adherence to the statutory and regulatory guidelines that apply to the SPA process as well as to questions concerning fairness to the sponsors. The Committee would like to reiterate that FDA is expected to adhere to the established standard as informed by the Congressional Record and the 1997 PDUFA Goals Letter.

I’m thinking that the FDA may take some action to “save face” that end up benefiting $AMRN. Of course, the FDA may not even care and continue to punish $AMRN for whatever reason. If price could not find support at $1.40; I may have to think about cutting losses once again.

Next, I sold $DNN for breakeven before price fell back down below my entry point.  I bought this for the momentum and I did not want to stick around when momentum died down.

I also bought $KNDI for the bounce but decided to bail by closing bell when price did not perform well for the day.

$LRAD had a very nice gain today which helped my port quite a bit.

Price bounce right back above the 79 & 89 MA line and look like it may gun for the nearby resistance soon.

Despite a pullback from $DMRC, $KGJI, and $AMRN, gains from $LRAD and $BIOS more than offset the losses that my port gained 3/4 of a percentage for the day.  YTD gain is now 5.1%.

Current positions:

LRAD, DMRC, KGJI, BIOS, SEED, AMRN and 15% cash.

From my other account:

$NVLX corrected a bit today but I’m still holding. Next week will be telling on this stock.

My 2 cents.

 

 

 

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Up Up and Away!

Yeap, that was what the market did today. When you look back to the beginning of May, you may realize that “sell in May and walk away” doesn’t apply for 2014 as well.  Ok, I may jump the gun a bit since there are still four trading days left for the month; however, the market will have to fall hard the next four days to prove the “sell in May” theorem.  I can’t say the odd is against a falling market since the $SPY is now touching the upper band of the Bollinger band; but the after hour SP500 being up 6.95 currently tells me the bull is firmly in charge right now.

I bought $DNN today ’cause I was looking for a bounce.

The 5 MA line is hooking back up and the momentum indicators below also tell me that price may be about to bounce.  I’ve my mental stop below the low of $1.14.

$DMRC took a small pause after yesterday bounce.

Price is now resting at the 79 MA line which is also a good support.  If price takes off from here, it will be a breakout of the downtrend line from the recent symmetrical triangle.

$KGJI continued to correct a bit but the fall is decelerating.

The “almost” doji looking bar is a small range bar and it may be a potential bottom from here.  Notice that the low of the day landed right on the 61.8% Fib retracement from recent low to recent high.

$AMRN looked good today with a nice bounce.

However, price needs to climb back above the resistance at $1.36 first.  Let’s see if this can happen this week; $AMRN will need a strong script number from last week to make it happen.

$LRAD bounced off the 15 MA line and closed back above the 89 XMA line.

I say it looks good from here.

Due to small corrections from multiple positions, my port dropped 0.66% today and YTD gain is now 5.7%

Current holdings:

LRAD, DMRC, SVBL, KGJI, SEED, AMRN, DNN, FSLR, CLDX and 4% cash.

From my other account:

I got cold feet and decided to sell all my $FITX after the morning bounce.  While $FITX is definitely laying down ground work for a strong future ahead with high caliber directors; there is still an unknown “waiting period” for the Health Canada licensing approval.  The longer we don’t hear anything about the HC, the harder it is to support current price and market cap.  Thus, I’m foregoing possible run from here to play safe with my cash.  I’m looking to buy back $FITX at lower price if possible to reduce my risk exposure.

My 2 cents.

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Ping pong anyone?  That what the market wanted to play.

In response to the ball from the bear, the bull sent it right back.  Chart actually looks encouraging for the bull since price closed above the resistance.  Now, i would not be surprise if tomorrow is a down day.  After all, it is the game of ping pong we are playing.

Today, I bought a position on $CLDX, a stock I used to trade successfully when it was under $6.  After missing the whole ride to the top of $38 and changes, I’m now giving the opportunity to catch the ride at this level.

Looking at the chart above, we find support that goes all the way back to May of last year. I’m betting that today mini-bounce will turn into the next leg up to start the 3rd wave of the 5-waves Elliot Wave theory.  If it takes out the high of the 1st wave, I may add more if I’ve cash left.

Next, I bought $FSLR.

Did you see the support that goes all the way back to May of last year?  There are also strong supports at this level back in Jan and March of this year.  Thus, the odd of bounce is pretty good.

$DMRC dropped some today and price is now at the 89 MA support line.

I like to see the support hold and price bounces off from here.

$LRAD corrected a bit after three days of rallies.

Price came back down to support.  Let’s see if it can bounce tomorrow.

Due to drawdown from $DMRC and $LRAD, my port dropped 1.4% today.  YTD gain is now around 5.6%.

Current holdings:

LRAD, DMRC, SVBL, KGJI, SEED, FSLR, CLDX and 13% cash.

From my other account:

$FITX opened lower and I was tempted to buy bottom.  But I decided to wait instead of catching a falling knife.  Later in the day, price began to climb back quickly above $0.05.  This convinced me that the buyers were coming back.  I began to buy back some position.  Even though I wasn’t buying below $0.05; I was still paying less than what I sold for earlier.  As long as the momentum continues to head back up, it doesn’t matter that I didn’t buy it at the bottom.  I’m buying the momentum that gives me better odd of riding the trend.

Today chart shows a very nice bullish engulfment candlestick bar.  If they announce news of license approval, today low will become the bottom.

My 2 cents.

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Market continued the bounce from last Friday.

Even though the DOW was up slightly, the S&P500 looked pretty good on the chart.  Price is now near the top band of the consolidation range.

$AMRN made new low and I saw no reason to hang around holding my position anymore.

The new low was disappointing ’cause I didn’t think it could go that much lower.  Oh well, I took my “new” losses and moving on.

Later on, I noticed that $CCJ was trading near a low that has strong support going all the way eight months.

I bought a starter position to test the water with a hard stop below recent low.

I’m also seeing the same strong support in the $14 range for $CARA.

Did you see how price traded near the $13-$14 range that goes back to February?  I also bought a starter position for the bounce.

$LRAD continued to excel by taking out the upper band of the consolidation range.

By doing so, it also took out the 79 MA line.  Let’s see if this one can take off from here in a big way.

Thanks to gain from $LRAD & $SVBL, it was enough to offset the losses from $DMRC, $KGJI, $SEED & $AMRN to keep my port at breakeven.

Current holdings:

LRAD, DMRC, SVBL, KGJI, SEED, CCJ, CARA and 16% cash.

From ,my other account:

$FITX opened down and I immediately unload my positions pieces by pieces.  When I looked back at it, I scratched my head on why I even bought it back last Friday for the bounce.  I sold it last week ’cause I felt the price would have a hard time going up due to $FITX having to apply for zoning permission to increase the size of the production facility.  And yet, on the next day, I completely forgot the reason for it and bought back for the bounce.  Today, I paid the price for forgetting…  Oh well, moving on.

My 2 cents.

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Market bounced back some today.

If you look at the trendlines right below today low, you will see that even though price was down the last two days, the market is still in an interim uptrend simply because today was a bounce day.

$KNDI opened lower so I decided to sell my position to take small losses instead of riding it. I was looking for a continuing upward momentum and since it didn’t happen, there was no need for me to hang around.

$KGJI, on the other hand, opened strong and rallied hard early in the morning.  Naturally, I added more looking for $2+ in the near future.

Volume was very high today and price gave back gain from the morning spike.  Nevertheless, it was still up for the day for a healthy 22.5%.  While I added more at higher price, I’m still up on this position overall.  Price is now stuck inside the 79 & 89 MA lines, I like to see price climbs out of this support and rally forward.

$LRAD spiked nicely later in the day.

Price is now trading at the upper band of the consolidation range.

$SEED began to bounce again waiting for the prospective buy-out result.

Price is now trading above the 79 & 89 MA lines.  It is looking good from here.

Even with a minor correction from $DMRC, thanks to rallies  from $LRAD, $KGJI, and $SEED, my port is up 1.8% today.  YTD gain is now 9%.

Due to $LRAD spike up today, it is now the largest position in my port with $DMRC coming in second.

Current holdings:

LRAD, DMRC, SVBL, KGJI, SEED, AMRN and 11% cash.

From my other account:

After watching price collapsed below $0.06 in mid-day, I began to look for price to settle to buy the bounce.  When I finally saw the 5 min. bullish engulfment candlestick pattern being developed, I began to buy back shares.  By the time I was done, I bought back about 70% of my original size.

You can see a lot of support at today low by looking at the chart.  This was why I’d no qualm buying the bounce today.

My 2 cents.

 

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On Friday, I said sooner or later, the bull is going to break thru the resistance and make new high.  Well, it happened sooner than I thought, it made new high today. Look at that green bar sticking out of the consolidation range.  Now, in order to confirm the continuing bull force, It is important that price does not fall back into the consolidation range inside this week.

$KNDI earnings report today convinced me to jump back in.  The fact that revenues increased over last year 1st Quarter meant that last quarter higher EV sales was no fluke. Although I bought after price spiked up, I was able to get some under $13; thus I am in the money on the trade so far.

The chart above looks like the bottom has a solid foundation. If the momentum can continue upward, I may add some more.

I also bought back some $CERS for the bounce.

Today had a bounce; however, I don’t have a strong conviction on this one since their earnings were not so great the last two quarters.  The only catalyst left on this stock is the FDA approval of its product in the US.  In other words, I’ll be quick to cut losses if price turns around from here.

$DDD opened higher and I was thrilled.  So I added a bit more.

Price climbed back above the support from last year October.  Let’s see if it can take out $51 resistance from here.

$DMRC continued to bounce higher.

Price closed above the 5 MA line today.  Let’s see if it can take out the 15 MA line tomorrow.

$LRAD also had a nice bounce today.

Price is now trading above the 89 XMA line and the 5 MA line has crossed over the 15 MA line.

All my stocks in my port went up today with $DMRC and $LRAD leading the biggest gain for the day. Thus, my port was up 3.3% today and YTD is now 7.6%.

Current holdings:

DMRC, LRAD, SVBL, DDD, SEED, KNDI, KGJI, CERS and 10% cash.

From my other account:

Still waiting for $FITX to announce result of Health Canada inspection.

My 2 cents.

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Market had another down day after spending all day trying to stay afloat.

But all is not lost, price still closed inside the consolidation range.  The first “if” I talked about yesterday haven’t been breached yet.

The only one stock in my port that sunk the most is $CARA. The rest of my position were either neutral, slightly up or down which had minimum effect on my port.

While I’m taking a heat on $CARA, I didn’t mind much at all.  I guess my big win on $KNDI has afforded me the luxury to bide my time on this one.  Price has approached the 50% fib retracement from historical low to high, so let’s see if it will bounce next week.  Btw, I added some more today when it bounced in the morning.  However, I decided to keep my shares even though the price turned negative later on.

Speaking of $KNDI, earning report is supposed to come out Monday, although I’m no longer holding position for this pivotal event, I wish everyone who is holding good luck.  If it takes off based on positive events, I may start to look for re-entry point.

$SEED closed back neutral after taking out the $2.60 support.

Did you see the doji formation today right at the support line?  Meanwhile the  5 MA line is also approaching the 15 MA line, this could mean a potential bounce next week.  Sometimes. the 5 MA line will come back down to touch the 15 MA before it bounces back up if the uptrend momentum is strong.  Let’s see if this is the case.

$KGJI had a strong opening which took out the $1.85.  It reached as high as $1.94 before coming back down to close slightly lower.

Because of the spike up, I added some more in the morning.  I’m still holding my added shares ’cause I believe price will eventually take out the ultimate $2.00 resistance.  Once that is taken out, I believe price will fly.  Why?

$KGJI had been consolidating in a range for almost four months now and volume was also increasing recently.  With gold price as well as gold mining stocks climbing for the last several weeks, there is only so much the bear can do to keep $KGJI stuck in a range while almost every gold related stocks are climbing.  Thus, I believe once $KGJI is back in the limelight, price will soar.

$MZOR is also stuck on the consolidation range.

Although it was only for about two months, any good news will kick this one up to the upside.

$LRAD closed the week slightly down.

But if you look at the weekly chart above, what come to your mind?  It is in a bullish trend, isn’t it?

I also bought a small starter position on $CERS when it was up in the morning (which I forgot to mention on twitter), I decided to keep the position even though it closed negative for the day.  Having a small position will allow me to keep an eye on this and give me the opportunity to add more when price begin to climb again.

Look at the weekly chart above, price has strong support at the $5.75 level.

Due to $CARA downdraft, my port dropped another notch.  However, I’m still up nicely for the year.

Current holdings:

LRAD, SEED, MZOR, CARA, KGJI, CERS and 24% cash.

From my other account:

$FITX chart looks very positive with a second green bar.

There may be a good chance price may bounce next week.

My 2 cents.

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