Market opened slightly negative but proceeded to take out the lower band of the opening range. It closed down 93 points.
My first order of the day was to manage my $INO trade. I was sitting on a huge profit and I didn’t want to give it back too much. I started unloading when price couldn’t hold the $2.90 area after taking out the $3. After unloading 80% of my position to lock in profit, I averaged out $2.75 selling price against average cost of $1.25. Not bad for the trade. However, I’m interest in buying back some shares for the long haul.
$CUTR earnings did not excel so I put a market order to sell at open. I was filled with a small losses. I’m glad I put a market order before open ’cause $CUTR closed worse than my fill.
With market taking out the opening range lower band, I started to unwind my position to raise cash. I unloaded 50% of $AMRN core position, 70% of $ONVO, and 80% of $BIOD to reduce risk.
$WG was still showing strength at the open so I took the opportunity to unload at breakeven. Glad I did because $WG went down after I got out.
I added to $CLIR, $PACB, and $ECTY because I wanted to continue to accumulate these positions with the profit I made from $INO. At this point, even if I’m adding back $INO, I will not be buying back the same amount of stock I had before.
LRAD, ECTY, NCTY, CLIR, INO, UCP, AMRN, PACB, ONVO, BIOD and 38% cash.
Categories: Daily trading Journal