LOCM

Market stabilized a bit today. I liquidated my CTRP as said yesterday at $49.71, taking a 4.4% loss. Don't feel good about the result but at least I didn't do stupid thing when the massive selloff happened yesterday.

Other holdings are kind of doing what I anticipated, they all recovered certain percentages, with CEDC still a bit below the 20-day EMA.

In the afternoon I got into LOCM (Local.com) at $6.87. Looking at the graph it displayed the kind of pattern I'm looking for. If I have to criticize that maybe; it is not near its all-time high. In the meantime it's more like a turnaround, like TASR. But you never know because TASR is still working quite well (I'm still up about 15% since I bought 2 weeks ago).

Before getting into more position let's sit back and think about my current holdings.

Let's start from TASR, the longest position so far, currently at a gain of 15%, I expect it will edge up slightly next week with normal volume. Any abnormal move will trigger me to think about the position again. With earnings report coming in Oct 24, a well-defined plan is needed to cut loss if it happens.

For CEDC, it's staying below 20-day EMA which is not as good as TASR, at least it didn't test the 50-day EMA at all over the last 4 days while it is below the 20-day EMA. No significant volume as well so maybe it is just taking a rest. I'm currently sitting at a 5.4% loss and if it starts testing the 50-day EMA with higher volume, I'll have to let it go.

Turning to EFUT, the speculated post. I expect it will go back up at least bit by bit next week, with possibility of gapping up. I won't be surprise if it stays below $25 but above $22 for a few more days with low volume. It is a speculated position so anything can happen, but again my maximum pain is $20.

Finally the new post LOCM. I actually take it as a half trend following and half speculated. What I mean is I'll go with my trend following strategy (that is, cut loss but not profit in too short a term), but I'm not surprise it may produce unexpected gap (up or down) on its way.