Market was neutral much of the day.
I was totally blindsided by by the 180 degree turn of event in the $ECTY financial. I would expect this kind of dire financial situation to happen on CCGI.OB since their cash balance was much lower. Instead, $ECTY was the one who raised the white flag. As a result, my accumulation of $ECTY created the most expensive losses I had to eat today. Yes, I sold my shares at market open. While the amount of losses I had to eat is less than the amount I made on $INO, it was no comfort since I do not like to give back too much of my gain. Accepting unexpected losses is part of the game so I’m moving on.
As a result of my losses in $ECTY, I’m dialing down on my risk factor by reducing position size on $NCTY. I also sold my $ONVO position to lock in gain due to an article I read that China also has 3D-bio-printing that “seems” to be more advanced. Depend on price action, I may buy back $ONVO tomorrow.
$NUGT continued to advance and I added another layer with a stop below lower-band of the opening range. Later, when price continued to advance from my addition, I moved the stop to breakeven. Unfortunately, I was stopped out of the addition near the end of the day. I also moved my hard stop on my core position to below half-way point of Friday daily bar with the idea of capturing a long-term uptrend move from here. If I am stopped out by the hard-stop, I would only give back a chunk of my gain but still keep a small profit for the effort.
$INO opened down and I tried my hand on catching the falling knife. Unfortunately, the bounce lost its zest and I was stopped out for small losses.
LRAD, AMRN, CCJ, NUGT, CLIR, UCP, NCTY, PACB and 31% cash.
Categories: Daily trading Journal