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.
LRAD, INO, ATRS, WG, DNN, BIOD, AMRN and 35% cash.
Categories: Daily trading Journal