Market opened a bit higher and then proceeded to dive underwater for the rest of the day.
Well well well, I was wrong about $CERS going over $7. Actually the earnings report wasn’t so bad. Although profit was down due to lower margin and higher expenses, these expenses went to build out infrastructure for the introduction of $CERS’ Intercept in the US. At first, price did not gapped down big.it was slightly down. So I took the opportunity to nibble some. Then price continued to head lower; then headed even lower. Once it passed below $6.50, I started to unload my shares as well ’cause I could feel the desperation in the selling. After selling 80% of my shares with price still dropping. I sat back and waited. While price tried to go further below $6, it was met with buying. Once the price began to bounce above $6 and refused to go below $6 again, i started to buy back my shares. As price continued higher, I kept buying until I got all my shares back. Now, I just have to dig my heel in and stay for the long haul.
While I proclaimed that I won’t sell my $AMRN shares yesterday, I was keeping my promise when price bounced off the gapped down and traded back up to above $1.9x. I was content to hold on to my shares then. However, when price began to drop again back to low $1.9x; I began to sense some bad vibes there. Without hesitation, I started to unload my shares. At first I sold 50%; then when price continued to see $1.90, I just dumped the rest ’cause I didn’t want to see price dropped below $1.90 with me holding the shares. Good thing I sold ’cause price began a steep waterfall action to hit $1.80. When you look at this, seems like $AMRN has been going thru some bad Karma here. As in bad karma, after you have gone thru enough of it, good thing may come back to you. So, I like to see price settles down at some level before I start to buy back for the bounce.
$KNDI continued to head lower and I was glad I was flat. I did bought a starter position when price hit the support from early October. If price can hold at these level tomorrow, I may start to buy back some more. Take a look at the daily chart below:
Price is now sitting on a 50% retracement level as well as the support from Oct 9th low. If price bounces tomorrow, I’m buying back my shares. However, there is a Form S-3/A filing today. See link here.
$KGJI had a nice recovering day after an initial drop in the morning. Take a look at the daily chart below:
Did you see the long-tail doji here? I like the fact that the price close right at the intersection of the 5 and 15 SMA. If the 5 SMA bounces off the 15 SMA from here, we are heading higher. Because I expect to see price bounces when the $KGJI executives come to the US in November to talk to investors, I wasn’t worry when price dropped in the morning.
I’m still scratching my head on the $NCTY trade. Price went down today but then almost all small caps went down today. So I’m going to give it a bit more room. The daily chart below shows the support line that I’m willing to see if it will hold.
I like to see price bounces from here though.
Like everyone else, $TINY also dropped but the daily chart still reflects an uptrend. In other words, the mini-uptrend hasn’t been violated yet. Therefore, I am still hopeful this won’t be dead money soon… See chart below:
Giving that most of my stocks corrected today, my portfolio went down today.
LRAD, CERS, GALE, TINY, KGJI, NCTY, CLIR, APRI, KNDI and 28% cash.
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