Market opened down and stayed down the rest of the day although it was only slightly down.
The first thing I did in the morning was to add to my $AMRN swing trade position; but at time passed on during the morning hours, I began to have second thought and sold out my entire swing trade position to minimize my risk exposure. I think the negative general market tone might have something to do with it.
I also added to $ECTY to bring my position back to where I was before I sold out 67% of my position last week when price tanked to $1.40. Although I paid more to buy back in, I’m ok with it since I truly believe this stock will take traction eventually.
I also bought $ONVO when I saw good momentum. Again, I placed a breakeven stop after I was in the money; and again, I was stopped out. I only want this stock if the momentum can take it away; however, I’m keenly aware of the inevitable secondary offering that will come any time. $ONVO needs to get this secondary offering out of the way already so that price action can take traction from here.
Seeing that $CERS was struggling all morning, I decided to sell my shares to reduce risk.
I did the same thing for $ATRS. I sold it all when price action took out the half-way point of the previous green bar.
Having sold $CERS and $ATRS, I used the cash to buy more $NCTY to take advantage of price drop to increase my position.
Seeing that $BIOD was going up, I added a bit more as well.
I also bought back a small starter position to build back my $CLIR position I sold in the high $8.xx to lock on profit.
A friend of mine brought to my attention on $UCP. I like it immediately and bought a position for the long haul.
LRAD, INO, NCTY, AMRN, DNN, BIOD, UCP, ECTY, WG, CLIR, CUTR and 11% cash.
Categories: Daily trading Journal