Market bounced back today but it was actually a closed call.

In the latter half of the day, the $SPY literally gave back most of the gain to end at even for the day until the last hour rally brought the price back up to where it was opened at.  While there was a bounce, we are definitely not out of the woods yet.  Price barely closed above the 89 MA line and the resistance at $184.xx can be quite formidable.  If price cannot take out the $184 resistance to the upside, price may collapse from there.  Therefore, caution is the way to go at current market climate.

Even with the gapped up open, there were still a lot of stocks bleeding red on my quote list. Therefore, I began to watch the price action to see if today was a bull trap.  I was eyeing on buying back some $TZA if price could bounce at some point.  By mid-day, $TZA began to climb and I bought a starter position when it took out the intra-day pivot high.  As price continued upward, I added more.

I also bought some $FAZ as well.

Then I closed my eyes to get some rest and woke up five minutes before market closed.  Whoa! $TZA gave back quite a bit of gain and I immediately sold half of my position.  I also sold half of $FAZ before the closing bell rang.

Today rally was not very decisive despite a gap-up open.  We would find out if today was a dead cat bounce in the next few days.

Seeing that $TZA was climbing, I decided to sell my starter position on $SEED so that I’m only holding two stocks on the long side.

I also ventured into $NUGT later in the day but the sudden drop in price shook me out of the position with a small losses.

While I gave back gain on $TZA and taking a small hit on $FAZ, my port actually went up a bit today ’cause neither $LRAD nor $SVBL needed to be hedged due to their closing on a positive side.

Current holdings:

LRAD, SVBL, TZA, FAZ and 57% cash.

From my other account:

$FITX had a small bounce today which was actually a strong day giving that most cannabis stocks were turning negative.

See how the price bounced off the 79 & 89 MA lines?  Also, both 79 & 89 MA lines are now merged together into one.  This could be a powerful support and the probability for continued bounce is good from here.  Currently holding $FITX only.

My 2 cents.

Comments »

The market continued on downward from the starting gate, with the exception of a small bounce inside the hour after the open, price followed the waterfall pattern all the way to the close.

$SPY is now trading near the heavy supports (79 & 89 MA lines, lower range of consolidation area–> near the previous two pivot lows in 3/14 and 3/27 respectively).

Due to that bounce that failed near the close, I decided to close my $TZA and $FAZ to lock in the gain.

Why?

At first, I thought I would hold for tomorrow; but then I noticed the falling prices for many of the momo stocks had been “decelerated”.  In other words, while they were still down for the day, the percentage down was less than that of last week.  Also, $TZA and $FAZ are not known to be trending vehicle.  From my history of trading, I gave back gain in $TZA for holding too long more than I could count.  They had a tendency to gap down against me if I over-stayed the position.  Thus, taking this lesson, I decided to take the money and run to break the old pattern.

If market continues to fall tomorrow, I can always buy $TZA back…

How did I start my day?

Let’s see, I added to $FAZ after the open to flow with the upward momentum.  I did not want to add to $TZA since I already had a large position.  Adding more would be over-weighting my port that a sudden rally on the DOW would put my port in a precarious position.

Next, I bought $NUGT since the chart looked good for a bounce.

Price was trading above the 5 MA line and it gave me the confidence to buy a starter position. If it drops below the 5 MA line tomorrow, I’ll be out.  If it bounces higher, I’ll add more.

As mentioned above, by day end, I closed both $TZA and $FAZ to lock in gain.

Because both $LRAD and $SVBL did not drop much, the gains on both $TZA and $FAZ more than offset the losses that I ended up with a small gain in my port.

Current holdings:

LRAD, SVBL, NUGT and 66% cash.

From my other account:

$MCIG was struggling with the support @ $0.60 so I put a stop just below 0.60 and was stopped out in no time.  Price proceeded to waterfall all the way to $0.50 and consolidated there for about half-an-hour.  Seeing that price did not go any further down (come on now, at $0.50, $MCIG was down 20%, so I saw little risk for price to go any further down); thus I started buying some of my shares back.  I paid b/w $0.50 and $0.535 to buy back about 70% of my shares.  I used the 30% to add more $FITX when it was trading at low $0.73.

As you can see on the $MCIG chart above, price showed a very nice hammer candlestick pattern.  Did you see the tail coming close to the 89 MA line. If price takes out the high of today hammer candlestick, $MCIG may bounce from here.

$FITX also recovered nicely from the day sell-off.

Did you see how the Bollinger band began to form a narrow range around the consolidation area?  Any significant price movement that closes either above or below the Bollinger band will be big alert to future price trend.  I like to think that price will close above the Bollinger band simply because I believe $FITX will complete the facility with such high standard that Health Canada will simply approve the license.

My 2 cents.

Comments »

Today the bear began to show its face with a bit of a teeth exposed…

While price is still inside the consolidation range, it is important that price bounces some from here or we may be seeing more selling again.  There are three supports that are the bull defenders against the bear.  The lower range of the consolidation range and the 79 & 89 MA lines.  Next line of support is the low of early February.  If these supports cannot stop the bear, we may be looking at the beginning of the bear market.  No, it won’t be a big drop like 2008; but it will be a slow torturing trend for those who decides to hold for the bounce that never comes.  Hey, I’m getting ahead of myself here, pardon my senseless bearish sentiment.  Nothing is confirmed until you meet with Mr. Hindsight; but by then all Mr. Hindsight will tell you is, “I told you so!”.

Today price action made me regret selling my $TZA position yesterday morning.  Yes, I’m human so I’m entitled to feel a bit  “cheated” when my prediction was right on target but my conviction lacked resolve.  There you have it, conviction plays an important part in catching a runner, especially when you are trying to catch it at the starting gate.  By lacking conviction, I cheated myself of the $TZA profit.

I considered myself lucky that only about 10% of my three-days settlement cash was released today ’cause I spent it all by adding to $CARA, $SEED, and $MZOR in the morning looking for a bounce.  Then I had a meeting that lasted most of the trading hours; by the time I came out, I was in for a not-too-nice surprise.  While the three names I mentioned did not cause that much damage, it was the $LRAD drop that compound my losses a bit more.

However, I’m seeing a lot of potential bounces here:

Take a look at $SEED chart below:

Did you see the price literally settled down on the 89 XMA line?  If there is more available cash free up tomorrow, I’ll buy the bounce (only if there is a bounce) to add more.  No, I’m not averaging down, I’m merely trying to rebuild my position back to its original size.  Remember, per my “personal” definition, if I’m scaling into a position when price is dropping, I’m simply accumulating a position; however, once I’m done with the accumulation, any add-on will be considered averaging down ’cause I’ll be exceeding my risk level I’ve originally established for myself.

$MZOR again trekked toward the lower consolidation range.

If it takes out the lower range, I’m going to have to sell it to cut losses.  However, I prefer that it bounces from here like it did several times before.  The fact that it could not bounce from the lower range means the bear is stronger than before; hence my resolve to cut losses from breakdown.

$CARA is reporting tomorrow after hour so I’m holding this one for the gamble.

I also sold $NUGT when it took out yesterday low in the morning.  Thanks goodness I did ’cause it saved me a lot of grief from losing even more in the meltdown.  See, it pays to cut your losses fast to avoid a bigger losses later.

Despite another down day, I’m still up 11% for the year.

Current holdings:

LRAD, SVBL, MZOR, CARA, SEED and 38% cash.

From my other account:

I added more $FITX to bring it back to my original size.  And yes, I paid more to buy them back.

Despite today market slaughter, $FITX held very well!

I also bought $MCIG, another cannabis play.  While going over the cannabis selection the other days, this one pulled me in.  I like the concept of pen-style vaporizer for $10.  It is affordable and most people won’t have to think too hard to buy it.  If I lose the pen-vape, no big deal.

One other reason I like $MCIG is because of the technical bounce I see on the chart.  Price was bouncing from yesterday green bar that bounced from the 38% Fib retracement.  Did you see that price actually closed higher today?

Now, I’m all set to take advantage of the growing cannabis market.  May this port one day eclipses my main port mentioned above.

My 2 cents.

 

 

Comments »

Market had a bounce today; but it was a soft bounce.  Not the “I’m going back up!” bounce.

Notice that price is still inside the consolidation range.  We may stay in this range for some duration.  I rather stay in the range than to watch a waterfall, do you agree?  However, all the technical signs are biasing to the downside.  5 MA is now pointing down and below the 15 MA line. Both momentum indicators are pointing down.

I made two big mistakes today.  Mistakes that I should know better…

The first one was selling out my $TZA at the open without giving it time to work it out.  The chart wasn’t so bad that I had to sell.  In fact, if I had a bit more conviction, I should be able to take some heat and see where it ended at.  Although I sold at breakeven, I threw away a trade that still has the potential to run.  Why didn’t I buy it back?  Well, ’cause I used up the free cash for other things and the other cash were tied up with the three-days settlement.

Did you see that the 5 MA line just crossed over the 15 MA to the upside?  It is like a upside down mirror of the SPY chart above on the 5 & 15 MA lines.

The other mistake I made actually cost me a bit of money.  I bought $CERS for the bounce this morning and was completely ignorant of the potential $40 million dilution that was announced last Friday.  Why didn’t I read the news to find out why such a big drop yesterday?  I was assuming that yesterday drop was just in sympathy with all the other drops everywhere.  Anyway, while the buy itself was a mistake, the bigger mistake was that I bought size.  Ouch!  When price dropped to $4.80; it reached my pain limit so I sold to cut losses.  I sold ’cause I finally read the news and realized the mistake.  While I made a mistake, I did the “correct” thing by cutting losses pronto instead of trying to justify staying in the position.  That is the way you have to play it if you want to stay in the game and keeping your gain.  While it hurt, I felt relief.  Even when price bounced back by the close; I didn’t care.

I also added back some $CARA I sold yesterday ’cause I like this stock.

I bought back $MZOR and $SEED as well but only half of what I used to own on the former and only 1/5th of the latter.

To top it, I bought $NUGT to supplement my $SVBL position.  I like the chart on $NUGT ’cause it looks good for a bounce.

Because of my error in $CERS, my port went down a bit which was mostly the $CERS losses.  The other minor fluctuations were offset by the gain in $LRAD.

Current holdings:

$LRAD, $SVBL, $MZOR, $CARA, $NUGT, $SEED and 40% cash.

From my other account:

Well, I’ve to admit that I made a mistake yesterday selling $FITX.  As a result, I’ve to pay premium to buy them back today.

Why do I buy it back?

i reviewed the list of cannabis related stocks last night and I couldn’t find anything I like to buy.  I thought of $PHOT but I didn’t want to pay the $0.50+ to buy it. Most of them are already trading at premium price.  $FITX remains the underdog that has the potential to jump over all others in spades.  And when I didn’t see other selling down $FITX, I decided to bite the bullet and paid the premium to buy the shares back.  I will add more if $FITX decides to drop a bit.

As the production facility continues to develop into the final stage, I can see price climb as well.

From the look of the chart, it is trading at neutral without bias in either sides, up or down.

My 2 cents.

Comments »

Market was behaving like a whale today.  It came up for air and then dive right back into the ocean…

As you can see in the daily chart above, price hit the resistance at the previous high and fell back inside the consolidation range.  Basically, the market is not ready to make a new high unless there is some catalyst to push it up.

Today, I shifted my positions around.  I sold the rest of $KGJI ’cause the chart looked pretty bad in the morning.  With gold price climbing since early January but $KGJI was stuck in the consolidation range all this time.  Now that gold price is correcting, $KGJI went down with it.  I don’t know whey $KGJI is not getting any respect at all from speculators and investors; but it seems like my money had been tied up unproductively all these time I was holding it.  Thus, I decided to let it go and use the proceed to add more $SVBL.  Yes, I’m redirecting the focus from gold related stock such as $KGJI to silver mining.  $SVBL doesn’t do mining but they do own a prime piece of land in Northern Mexico that supposedly has a lot of silver underneath the ground based on exploratory result.  However, by day end, $KGJI spiked back up so I bought back a starter position.  I believe earning report is coming next week so let’s see which way it goes.  So far, I’ve missed two positive earnings play by closing out $KNDI and $SVA before earnings.  Oh well, it is still a gamble so I preferred to play safe.

I also reduced my positions on $SEED by 80% to reduce China exposure.  It seems that the politic in China may take a much longer time before deciding on the genetically modified seeds offered by $SEED.  Interest is fading and price is slumping back down.  The bids were there so I took it.  I also used the proceed to add more $SVBL.

Why the sudden interest in $SVBL?

For one, the super high volume (over two million shares traded) on March 13th got my attention.  $SVBL is a buy-out play so volume of that magnitude meant someone was interested.  It may or may not mean anything but I feel the “pull” to accumulate this stock.  I also believe the market, in general, is going to correct pretty heavily this year and that precious metals will become a popular safe-haven again to speculators and investors to jump back in.  Thus,with this thesis in mind, I added to $SVBL.  I could be wrong but this is the play I’ve chosen to follow.

See how price bounced right back up from the 79 & 89 MA lines?  The stochastic also began to turn up from below.  If I’m going to hold a precious metal related stock for a long duration waiting for something to happen, I’m going to give $SVBL a chance giving that $KGJI gold stock didn’t do much for me after all this time.

Currently, $SVBL is my third largest position after $LRAD and $MZOR.  $CARA dropped to fourth position giving recent correction.  In my own theory, $SVBL is my portfolio hedge against a major market correction- irrespective of rather my theory make sense or not.  You should know by now that I take a stock position based on my personal theory and logical deduction of what I think is happening or will happen.  I collected information from other contributors and weighed their opinions with my own analysis.  I then make my own decision to plan the trade- buy, sell, or hold.  I do NOT care what other people are doing with their position of the stocks I’m holding.  I make my own decision by looking at the chart and reviewing the latest updates.  Sometimes, I time it right and sometimes I don’t; but I always have to be mindful of managing the risk.

I was just glad that my $TZA position didn’t get stopped out during the morning rally.  It was nice to see it closed positive.  If the market continues to slide next week, I’ll add to this position as soon as cash is available from the three-day settlement.

Needless to say, with $LRAD, $MZOR, $CARA, and $SEED corrected today, my port suffered another setback but was cushioned nicely by the gain on $SVBL.

Current holdings:

LRAD, MZOR, SVBL, CARA, TZA, SEED, KGJI and 26% cash.

From my other account:

$FITX had a nice bounce today.

Although price could not stay above $0.10 and closed at the lower $0.09x range, I was just glad to see it closed positive today and for the week as well.  If $FITX executes flawlessly going forward after receiving the license from Health Canada, there is a possibility that this port will eclipse my main port discussed above.  I look forward to see that happen.

My 2 cents.

Comments »

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.

Comments »

The market had a wild swing during the day but closed the day neutral.

While it was a red bar, the overall trend is still up.  Notice that since beginning of February, there was only two significant corrections, 02/19 and 03/03.  This can only mean that we are in a kick-ass bullish trend or we are due for another small correction soon.

And this is the basis of my concern that I no longer feel the conviction to hold on to my $KNDI shares.  A collection of recent events had somehow changed my strong conviction on $KNDI into a cautious “going for a quick buck” speculation.

What recent events?

Remember that time I bought $XONE in December @ low $5x.xx and rode it all the way to high of $70.xx+ in mid-January and then watched a whole chunk of my unrealized gain evaporated into thin air in the name of “bullish conviction”?  This experience taught me that I must temper my conviction with a dose of short-term reality. This lesson was further confirmed by my most recent gave-back of my medium size unrealized gain on $CERS going into earning day.

Reaching my milestone target is another event that put me into cautious mode.  I do not want to fall below this milestone high so early in the game after just reaching it.  Selling out my largest position (30%+ of my port) to lock in gain was the only way to ensure that my milestone high would not be out-of-sight if a correction hit $KNDI b/w now and March 17th reporting day.

Since $KNDI had climbed so fast and is making new high approaching the March 17th reporting day, I’m becoming more leery of holding such a huge amount of unrealized gain gambling on the earning outcome.  In other words, if I’m going into this earning date with my unrealized gain on the table, I’m practically betting this whole $KNDI pot (principle and unrealized gain) on the earnings result.  So  I asked myself if I am ready to push all my $KNDI chip in the center of the table?

No.

The possible “island top” was all I need to find an excuse to sell $KNDI to lock in profit last Tuesday 03/04.

In an nutshell, I lost my “nerve” on $KNDI.

But that is just me.  $KNDI could surprise and continue to move much higher and those who have the gut to bet big will surely be rewarded for their risk-taking.  I believe I was rewarded very well for my gut and conviction of buying at the low $5 and rode it all the way to $18.xx since the latter half of 2013 with a double-down in late December after Geely’s announcement on the EV version of the London’s black taxi.

For now, $KNDI is just another possible speculative bet that warrants a “guerrilla” type of trading- in and out with small to medium size position for a quick swing trade.  With more update fundamental news, I may again become a longer-term holder.  One thing I learn is that today stock market environment requires us to combine nimbleness and a long-term outlook at the same time.  Think of a jaguar following the herd jumping in and out of the herd for the kill but still follow the herd for the next possible kill.

I actually went in with some starter position on $KNDI today but chickened out at breakeven when I realized I didn’t want to hold the position over the weekend.

Both $CARA and $LRAD were taking hit today so my port suffered another small setback.

Since $CARA position was only 1/3 of my original $KNDI size, My conviction of its disruptive pain-killer technology can handle the drawdown.

So far, all I’m seeing is some normal price correction.  Still holding my shares long and strong despite taking heat.

$SEED was practically neutral which was good enough for me.

Notice that price is still above the support area. Still holding long and strong.

$KGJI bounced slightly today.

Perhaps, next week price will take out the $1.85 resistance once and for all?

$MZOR performed well today coming back from a bearish attack to close only slightly down.

Price is still trading in the upper-range of the consolidation.

$LRAD was still stuck in its own consolidation range.

Today was another set back but I like to see price bounce tomorrow to stay inside the recent consolidation area.

Due to $LRAD and $CARA correction today, my port was down another notch but overall is still above milestone high.

Current holdings:

LRAD, SEED, MZOR, CARA, KGJI and 28% cash.

From my other account:

$FITX broke thru the resistance today.

Although it fell back from the high of the day, it still closed above the previous resistance which has now become support.

$FITX announced that it acquired Hemp Technologies Ltd.  I believe that $FITX is laying on the correct brick to build the company up. To me, it makes perfect sense.  After harvesting the 1.3 million pounds of medical cannabis, those non-bud (leaves and stems) can be used for industrial hemp.  Nothing go to waste.  What perfect synergy!

Still holding long and strong.

My 2 cents.

Comments »

Market was up slightly today and the general direction is still up.

Notice that volume was lower than average for the last two days.  Can price continues to float upward from here?  We will see.

I added to $KNDI due to a strong opening; but when price started struggling to stay within the opening range, I decided to put a stop below the range.  I remember reading that some outfit projected a target of $20.xx; so I asked myself, “we are at the target, so who else is buying this up?”  Apparently no one since I got stopped out when price fell thru the lower opening range.  Luckily I still had some profit from yesterday buy that despite my adding this morning, I came out with a small profit.  Although I got out of my large position two days too earlier; I really can’t complain about the profit I was able to capture.  Stock speculation is risky and no one can ever get out at the top or buy at the low.  We just need to stay true to our decisions without second-guessing ourselves because hindsight gives a different picture than the one we’ve envisioned.

$SEED took a tumble at the open when there were no news to hold yesterday gain.  I did not sell ’cause my original objective of seeing thru the China’s decision on approval of the GM seeds has not changed.

While price came back down, it still stayed above the support (blue line). The good news is that $3 resistance had been broken, so I don’t see it as a hard resistance anymore.  Let’s see if there is a bounce tomorrow.

I sold $SVA today ’cause price fell thru yesterday low.

When I loaded up to swing for the fence, I expected price to behave upward with strong momentum.  And when price went the other way, I had no choice but to “get out of Dodge” before losses magnified to an unbearable point.

$MZOR bounced a bit today so I’m still holding.

Price is still at the upper range of the consolidation area so I’m not worried at this point.

$CARA corrected today but I decided not to sell any shares ’cause I believe this new pain-killer can improve pain-management drastically due to the lack of side-effects the opiate drug has.  So, I’m holding this for a possible buy-out from big pharmaceutical company or positive phase 3 result.

See how price closed above the 5 MA line?  Hopefully, it is finding support here.

Both $KGJI and $LRAD were practically neutral for the day.

Due to correction of $SEED, $SVA, and $CARA, my port gave back a chunk of gain from yesterday.  However, my port is still above my milestone level.

Current holdings:

LRAD, SEED, MZOR, CARA, KGJI and 28% cash.

From my other account:

$FITX continued to bounce back upward.

We may be seeing a V-shape bounce to take out the resistance @ $0.115 level.  As $FITX continues to show progress on the construction of the facility, price will continue to climb higher.

My 2 cents.

Comments »

Market staged a spectacular rally after a gap-up.

Look at the spike up!

$KNDI also followed with its own spike-up as well.

However, I’m spooked by the narrow range doji formation at the top. Although it has not been confirmed to be one, the doji at the top reminds me of the island top reversal pattern.   Thus, despite my better judgement, I made the difficult decision to sell all my $KNDI shares to lock in profit even though I like this one for long-term.

Another main reason I wanted to lock in profit today is because my port has finally reached a milestone in term of a specific target I’ve dreamt of achieving.  In a manner of speaking, I’ve broken my own “sound barrier” record.  As such, I like to see this new milestone frozen for a few days by locking in my biggest gain so that any temporary correction of $KNDI will not drop my port back below today high.

$MZOR was up slightly but I added some to round up my investment size.

Price is now banging against the top range of the consolidation.  Let’s see if it can breakout to the upside this week.

$CARA was also up today and it was fighting to stay above $22 all day but failed at the end.

At first, I sold some to lock in profit.  But the more I think of its potential as a pain-killer drug, the more I want to stay in with my trading shares; thus I bought back the shares I sold in the morning plus some before market closed.  Let’s see if this one can continue upward this week.

The rest of my positions provided minimum impact on my port.  Thus, today $KNDI, once again, took my port to a whole new level.  I’m sure I may regret getting out today but I need a rest to enjoy the view for a moment.

Current holdings:

LRAD, MZOR, CARA, SEED, KGJI, SVA and 32% cash.

From my other account:

$FITX fell off the cliff and even I found it disturbing for a moment.  Thanks goodness price bounced back up eventually.

See how price bounced off the 79 MA line?  Magical!  With such high volume to back up the bounce, the odd of continuing upward is high.

My 2 cents.

Comments »

Market fell off the cliff today but managed to hang onto to the tree branch dangling above the consolidation range.

See how price closed back above the range?  I could see a bounce tomorrow.

Meanwhile, thanks to $KNDI and $CARA, my port made new high today.

$KNDI opened lower but bounced back to the surface rather quickly.

As you can see, the bear tried to push $KNDI down in mid-day but failed; price bounced back up to close near the high of day.  It was a nice looking bullish chart, you would think the general market was up today just by look at $KNDI chart.

My weekend research pointed me to $CARA.  It has a fantastic story of a pain-killer drug that is as strong as a morphine drug but without the opiate addiction side-effect.  Please pardon my pasting an excerpt from a contributor from SeekingAlpha:

The most exciting CARA compound is CR845, which is not a CB-acting drug. CR845 is unique because it acts on pain receptors in the same class as those acted on by morphine but it does not cross the blood-brain barrier, leading to significantly reduced side effects. This molecule is currently in Phase III studies for Post-Operative Pain, and had excellent morphine-sparing effects in Phase II results.

I couldn’t contain my excitement as I learned more about $CARA.  As luck would have it, due to negative market open, $CARA also opened down.  I jumped at the opportunity to build up a position while price was debating whether to go down more or to go back up.  I didn’t care if it would go down more ’cause I wanted to buy more.   As price began to climb back above water, I just kept on buying until I got the amount I wanted.

To my surprise, price began to climb much higher from my entry point during mid-day.  Although price gave back some gain from the high of the day, $CARA closed almost 13% higher for the day.

$SEED also performed admirably in the face of down market.

Price did bounce back from the support as I had predicted.  $SEED looks like it is going to go much higher soon.

Although $LRAD, $MZOR, and $KGJI all corrected a bit today, the gain from $KNDI, $CARA, and $SEED propelled my port to another new high today.

Current holdings:

KNDI, LRAD, MZOR, SEED, CARA, KGJI, SVA and 1.5% cash.

From my other account:

$FITX continued to head south and somehow, I wasn’t concerned at all.

Notice that price is getting near the 50% retracement area.  Currently, the heat I’m taking is being absorbed by the gain I made from $XTRM earlier before I got into $FITX.  In the back of my head, I somehow know that $FITX will pull through and get the facility build… but that’s just me.

My 2 cents.

Comments »