Yesterday neutral price action at the market pretty much set up for today big bounce.
As the support line and 50% fib retracement joined together, the odd of bouncing was good.
It was unfortunate for me that sellers hit $LRAD after earning announcement yesterday. As a result, my portfolio took a step back; but with today bounce, $KNDI saved the day by taking the port back up a bit. Despite the sell-off, I still hold a conviction on $LRAD and will continue to hold this one for the long haul.
To reduce my risk yesterday, I unloaded most of my semi-conviction stocks such as $AMRN, $ATOS, $INO, $FULL, and $GOGO to raise cash. Since I’ll be holding $KNDI, $LRAD, $KGJI for the long haul, I needed to unload more of the others to balance my risk.
With today bounce, I added back more $CERS to bring it back to full size position. As the year progresses, we will soon find out if $CERS’s blood cleaning system will pass the FDA iron-gate.
I also added back more of the $SEED I sold earlier to bring it back to full-size.
$CREE looked good on the chart for a strong bounce so I bought a decent size position.
The bounce on the chart looked solid. Let’s see if tomorrow will take this further up or bring it back down and below.
$KNDI had a strong bounce and it took price all the way back into the middle of the consolidation range.
It was day like this that I gave up timing $KNDI. Since I want to hold this for long haul, there is no point trying to swing trade it ’cause the chance of missing a run is always there when you are not careful. Just take a look at the $YELP chart today,
You see how after a strong gap up at the open, price continued to rally strong upward all day. This is why I don’t swing trade $KNDI anymore. I look forward to seeing $KNDI price action moves the way $YELP moved today.
Current holdings:
KNDI, LRAD, SEED, KGJI, CERS, CREE, TINY and 6% cash.
Notice that because of the $LRAD falling price, $KNDI is now back to being the largest position in my port.
My 2 cents.
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