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.
LRAD, ECTY, NCTY, CLIR, UCP, PACB, AMRN, ONVO, CCJ, ATRS, NUGT, BIOD and 29% cash.
Categories: Daily trading Journal