07-22-2013 Trading Journal

Market was basically neutral all day but ended the day with a doji bar.  With DOW being near the high of May 22nd, a doji bar at this point demands caution here.  Let’s see how price action looks like tomorrow.

Over the weekend, I saw a potential breakout play on $WG and today price action confirmed my observation.  When price took out last week high, I bought a decent size position and added a bit more near the close.

$ATRS dropped like a rock early in the morning but thanks to a powerful bounce, price was able to recover completely plus some.  I was cautiously happy when my limit buys at low $4.2x were filled.  However, later on, when the strong bounce ensued, I was quite happy and I bought back some more to get back the 50% I sold last week.  Now back to 100% core position.

The chart on $CLIR was not looking good and I felt a correction coming, so I sold my shares to lock in decent gain.  I will look to buy back under $8 if possible.

What’s a miss!  When $USU did a reversed split of 25-1, price immediately tanked after the split and hit below $3 at one time.  Unfortunately, I wrote it off as potential bankruptcy and stopped watching it.  Now, it was trading  $12+.  Oh well.  Nevertheless, price action on $USU and $URRE today confirmed that uranium is back.  Thus, I decided to buy $DNN instead since it was kind of slow in playing catch-up.  In a way, I’m not chasing $DNN comparing to buying $USU or $URRE.

With $BIOD price action holding well all day, I decided to add a bit more for potential momentum play b/w now and end of August.

Current holdings:

LRAD, INO, ATRS, WG, DNN, BIOD, AMRN and 35% cash.

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Categories: Daily trading Journal

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