08-07-2013 Trading Journal

Market, again was on defensive all day.

$INO continued to plummet even before market open.  I put an order to sell the rest of my position at the market after open and got filled in the low $2.xx.  It was a good thing I sold 80% of my position yesterday morning; otherwise, I would have given back a big chunk of my gain.

After liquidating my $INO position, I added to $ONVO and $BIOD.  Unfortunately, neither one of them performed well and I got stopped out of position I added.  I used the opening range lower band to help me set the stop.

I also added to $PACB using a stair-step method during the day to build my position up.  I was planning to scale-down but the strong price would not give me that luxury.

I also placed a limit buy on $ECTY at $1.45 and got filled.  I’m still not done building my position and will continue to add when opportunity comes.

I bought starter position on $NUGT using a hard stop below previous pivot low to play the “catch the falling knife” trade.

I also bought $CCJ with a hard stop as well.  Same play as $NUGT.

$ATRS is looking strong and I believe people are coming back to trade this one for positive expectation of the coming trial result that is due next month.

Current holdings:

LRAD, ECTY, NCTY, CLIR, UCP, PACB, AMRN, ONVO, CCJ, ATRS, NUGT, BIOD and 29% cash.

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Categories: Daily trading Journal

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