Market opened up and stayed up all day.
Meanwhile, $INO corrected at the opening and I immediately sold 70% of my position to lock in profit. I placed some limit order to buy at $1.20 and I was surprised they were filled. Since price began to climb back up from $1.20 area, I began to accumulate more shares to bring my position back to 75% of my position size from this morning.
$AMRN was quite disappointing and I just had it. I dumped my swing trade pronto and sold down my core position to 50% of original size. Good thing I did since price continued to head south after I cut my position. This one had cost me capital and opportunity cost due to money being tied up for so long. The bright side was that I didn’t average down from my entry point; otherwise, I would have lost a whole lot more. Basically, I gave back my $AMRN profit from $3 to $7 from my early trade plus some.
$BIOD announced completion of dosing on the Phase 2 clinical trial and I realized that there were no run-up happening. Thus, I sold down my position size by 75% since I wasn’t willing to gamble on the result with a large capital base.
Despite $INO down day today, I still lock-in a nice sum of profit. If price can continue onward from here, I will regain my lost profit in no time.
LRAD, INO, ATRS, CLIR, AMRN, BIOD, DNDN, KOOL, TINY, CUR and 30% cash.
Categories: Daily trading Journal