07-11-2013 Trading Journal

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.

Current holdings:

LRAD, INO, ATRS, CLIR, AMRN, BIOD, DNDN, KOOL, TINY, CUR and 30% cash.

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Categories: Daily trading Journal

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