06-05-2013 Trading Journal

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.

Current holdings:

AMRN, LRAD, TINY, CERS, DNN, BIOD, TBF, APRI, UNXL, FNMA and 20% cash.

@tradingmy2cents

The trades I made in the journal were time-stamped in twitter

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Categories: Daily trading Journal

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