Today was an accumulation day.
Market opened down and stayed down all day.
Meanwhile, my $DUST was stopped out. And guess what I did? I bought $NUGT like a degenerated gambler and then got stopped out later again! The gold trades had me going round and round in circle. Thanks goodness I made some good money last month trading the gold ETFs and was now trading only small size these day; otherwise, I would be losing money. At this rate, I better stop before I give all my early profit back.
At first, I short $TSLA with put option but I was stopped out when I moved my stop to breakeven. Later on in the day, I was impressed with the strength of the bounce so I bought the June $90 call option. I added more later when price continued to head higher. However, by closing time, price took a dive and I decided to close my position to lock in profit. With the $SPY took a dive at the close, I do not want to hold $TSLA with the prospect of another big DOW down day tomorrow.
I bought $BIOD today to take advantage of the today correction. I may not have bought at the bottom but I don’t care at this point. Since this is a small float stock, I will buy today so I don’t have to chase it if tomorrow is an up day. I understand that I may have to sit thru volatility from here; but the prospect of a run-up to September is good due to expectation of a positive Phase II result.
I also added to $CERS to round up my position for the position trade. I will now sit on this trade like I’m doing with $AMRN, $LRAD, and $TINY. Going thru drawdown will be part of the game.
I also bought a starter position of $FNMA to take advantage of the correction today. When long-term interest rate climb from here, I believe $FNMA will eventually come back to glory.
I added to $DNN this morning due to analyst upgrade and strong price action. I believe this one will go over $2 soon. Or perhaps a possible target for buyout… of course, this is only my wishful thinking.
I also bought a starter position on $UNXL to roll the dice for a bounce. This is no difference than me putting a chip on the number on the roulette table.
AMRN, LRAD, TINY, CERS, DNN, BIOD, TBF, APRI, UNXL, FNMA and 20% cash.
The trades I made in the journal were time-stamped in twitter
Categories: Daily trading Journal