Market took a breather today after yesterday huge rally. While it closed slightly negative, I considered it a neutral day.
Unfortunately, I believe there is a server crash at TC2000.com for I couldn’t login after upteen times; thus, I’m going to have to write this journal without chart.
Well, $KNDI opened higher and closed higher. What could I do but to kick my own behind? After reviewing my thought process yesterday that prompted me to sell for profit, I realized I’d forgotten to remind myself of my past errors in selling too soon ($LNG being an example). Yesterday was not the first time I was tempted to take profit. In the past, I was quick to remind myself of the missed trend plays on $LNG and that was good enough for me to pull back my trigger-finger and sit on my hand. Somehow, yesterday, that reminder was absent and I allowed my fear of giving back profit that would put me back below the milestone target to affect me.
But then, all is not lost. What I’ve really given up is today range of profit which is pale in comparison to my lock-in profit I took home yesterday. I did, however, buy back some starter position (about 1/6th the original size) at the low $19.xx. Furthermore, it is time for me to re-balance my port due to $KNDI being way over-weighted. Today, I was able to use the available cash to spread it around $SVA, $KGJI, $SEED, and $CARA. I still have some cash tied up with the three-days settlement period which when release, I will use it to buy more $KNDI to bring its size back up but it won’t be the same size as before. The end result will be that I’ve seven hi-beta stocks that are evenly distributed in size; nevertheless, $LRAD will remain the largest position of all.
Although I missed the $KNDI rally that could take my port another notch up; my port was still able to move much higher thanks to $SEED incredible 34% jump. In other words, $SEED saved the day!
I believe that China may be leaning in favor of allowing GM (genetically modified) seeds to be used in China agriculture. This is probably why $SEED went ballistic today.
Out of the seven stocks, only $MZOR was down today; thus my port continued onward to make new high.. As in chart psychology, now that my milestone resistance has been broken, I no longer has the psychological barrier on the new level. I’m ready to move on to the next level.
LRAD, SEED, SVA, MZOR, CARA, KGJI, KNDI and 8% cash.
I’ll be looking to buy back more $KNDI when the 8% cash becomes available.
From my other account:
$FITX continued to move higher from yesterday huge bounce. BECAUSE price was bouncing up instead of heading south, I allowed myself to add more $FITX today as a swing trade. This means that if $FITX was to go south again, I’ll dump today add in a hurry but will hold the rest for the long-haul.
Overall, despite not having a lot of $KNDI around, I was still able to have an excellent up day.
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