I sold my NOK position today to lock in profit.  Although I tried to daytrade afterward to see if I could capture the upward momentum if it continued.  I was stopped out and the daily chart was reflecting a doji which I was not excited to see.

Below is the daily NOK chart:

 

Potentially, today doji bar could become an island reversal pattern or an evening star reversal pattern.  I, for one, am not going to wait around to see if that is the case.  Thus, I’ve no problem locking in my profit and see where the wind blows tomorrow.

I also bought SSYS in the morning but decided to lock in profit due to a strong upward thrust all day.  Both DDD & SSYS are in the 2nd strong up bar and I do not want to sit through a correction tomorrow.  The thing about DDD & SSYS is that their volatility is legendary.  The speed of a reversal (up or down) is very FAST.  Hence, I’ve no problem again to lock in profit and see where the wind blows tomorrow as well.

Below is the 5 min. SSYS chart:

 

So far, a positive trading day today!

I’m now holding AMRN, LRAD, SZYM, GLOG, USU, EMAN, ES & 39% cash.

Yes, albeit my drawdown on AMRN, LRAD, & USU (all position play), I’m always striving to gain profit by swing-trading.

You can always see my trading activities here @followtheprice

Trade well!

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“Wait a minute!” you said, “the day is not over yet!”

OK, I jumped the gun to declare a confirmed breakout.  Look at the daily chart below, do you see a strong breakout?

 

I don’t see how it will collapse by end of day.  There is strong support @ $4.00. Needless to day, I bought more today (once before the breakout and another batch after the breakout).  Now my position on NOK is full size. You can see my daily trading activities here @followtheprice

Below are my previous posts supporting NOK being a breakout target.

NOK- Imminent Ascending Triangle breakout?

Comeback story- Nokia

Trade well!

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Alert! Alert! Possible breakout from NOK.  We are looking at a possible ascending triangle (continuation) breakout pattern.  Prices had been meandering around the $3.85-$3.88 area for the last half-hour and as an observer, I say it really wants to go up to take out the $3.90.

Will NOK be able to do that?  My bet is that we will see the breakout today.  Behold the price action when it does.

Below is the NOK daily chart about 5 minutes ago:

 

Below is the NOK weekly chart:

 

By looking at the charts, you can see where I’m coming from.

I bought back in @ $3.87.  Even though I dumped it yesterday, I’ve no qualm buying it back at higher price as long as I see a momentum for the upswing.  It is all about price action; not about where I’ve bought and sold before.

Trade well!

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Regarding NOK, I sold half of my position size in the morning to cut losses  and to reduce risk.  I wanted to see how the price action settled in during the day.

After price started to hang around the $3.65- 3.68 level, I bought most of what I sold back in the latter half of the day.  I now hold about 70% of my intended position size.

Take a look at the Daily and Weekly NOK charts below:

Did you see how the bar look almost like a hammer?  I like the fact that it leaves a long tail behind.  Potentially, the price may want to go back up.  Hence, my buying back the shares I sold this morning.  For all intent and purpose, despite today down day, I believe the short-term trend is still up.

Now, look at the weekly NOK chart below:

Today bar did not cut through 50% of last week bar; that was a good sign for me.  Just from eye-balling the chart, it does look like the uptrend is still intact.

Now, you know the reason I bought back my NOK shares.

Below is the EXK daily chart:

You see how the green up bar today formed a small V to create a pivot low from last Friday low bar?  This pivot low is higher than the pivot low created back in November 15th.  I like to see prices take out the last Monday high of $8.73 to confirm last Friday low as pivot “higher” low.  To me, this is a low risk trade because my stop level will be either last Friday low or Nov. 15th low.  Hence, I bought a medium size position on EXK today.

Meanwhile, I’m still smarting from the drawdown due to courtesy of AMRN LRAD & USU.  I’m not too worry though.  You know why?  Because I know trading BIOTECH is not only heart wrenching sometimes but it can also be heart-warming at times.  Take a look at the CLDX chart today (see below).  I traded and profited from CLDX in the past but did not trade it this time due to my commitment to AMRN.  Hey, one BIOTECH commitment is plenty here.

Did you see the spike up today?  Wow!  That is what I like to see happening in AMRN.

 

 

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So far, Nokia & Microsoft Windows phone 8 have jumped on broad the China train:

1) Nokia Partners with China Mobile to Launch the Lumia 920T, the First TD-SCDMA Windows Phone

2) China Unicom, Microsoft Forge Alliance To Boost Windows Phone Sales In China

3) Nokia Lumia 800c in second spot on China Telecom’s sales chart

Excerpt from China Unicom news:

“China is a strong area for Nokia, which is the biggest single-country for sales of Lumia devices. In fact, Nokia recently released the first ever Windows Phone 8 handset in China with the Lumia 920T, however that device went to China Mobile, China Unicom’s fiercest rival.”

Now, take a look at the table below:

Source: China to hit 1B mobile subs next year

Based on the three news items above, Nokia is in a position to grasp some of the one billions subscribers.  Now, you tell me, do we have a catalyst for a runner or not?

Look at the daily and weekly charts below:

Daily NOK chart:

Do you see a prospective runner in the chart?

Now take a look at the weekly chart below:

Do you see the basing of the bottom?  Do you see how much more room this stock can run?

Houston, NOK is ready to take off!

Oh yeah, I’ve bought 3/4 size position and will add to full -size position if NOK takes out the previous 3 days high of $3.90 this coming week.

Good Hunting!

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