Finding Income
Published in

Finding Income

Trading Journal for 5/20

  • It is 7:47AM
  • SPX is up at 2975…
  • On the watch list is…PHUN (+156%), it looks like it just lost 50%…ACY (+84%)…overall it looks like quite a few stocks are moving…
  • No big moves happening right now…except for CNET (+60%) which is too cheap a stock to trade…time for breakfast…
  • So the SPX is approaching SMA200…I need to consider selling my long-term investments to see what happens at this level…
  • News…Google Cloud lands deal with Department of Defense but stock price little changed…ABC News reports that “Ultraviolet light to zap coronavirus on subways, buses”, which is causing LEDS to move but not convincingly…
  • +$78.40 on LEDS for the break of $3.00…let’s see what the pullback looks like…+$123.39…I’m having a bit of trouble reading the price action…the volume seems to come in spurts as it approaches previous highs…
  • A bigger pullback but chart still looks good if it reclaims $3.50…meanwhile PHUN is approaching highs…nope LEDS is falling back to VWAP…it’ll take a while for another up move to happen…I’ll set an alert and look at other stocks…
  • CMCM (+58%) is grinding higher…it just moved above SMA200…looks like the only news on it is that it’s “selling its equity ownership in Bytedance”…it’s currently holding above SMA200…I’ll watch to see if volume comes in for a next move up…nope big pullback to EMA20 on the 1 minute chart…I’ll set an alert and move on…
  • Now that things have quieted down a bit…more news…Walmart online sales rose 74% YoY, I guess it’s all from the small businesses that are getting crushed…
  • BOXL just doubled on news of a $10m supply agreement with CEC Finance and Logistics…it is now halted going up for the second time at $1.97…I’ll wait for it to pullback and see if it holds above $2.00…daily resistance at $2.09…I’m seeing a lot of long wicks on the daily chart, this will be a stock to be careful with…nope big pullback…
  • News…Senate passed a bill to regulate Chinese companies, I think that might have caused SPX to drop 10 points…mortgage demand is rising…FB is at highs on news of its shopping portal…
  • +$20.20 on CIDM (+219%)…it’s halted at $1.98…didn’t feel comfortable holding into a halt like this…yeah, it resumed, rose $0.02 and then halted going down…so CIDM is still moving but I’m not actually sure whether its news is good enough…+$60.00…haha I actually thought it halted again but it’s volume actually just went to 0 for a while…this stock might be too risky to trade…
  • Ok, I’m going to swing trade SPX at 2975…target of 2800 and risking a close above 3000…
  • Good thing I didn’t take any more trades on CIDM…they just did a secondary offering…on the same day of the big move too…RIP traders…
  • Overall, up $281.99

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store