08-14-2013 Trading Journal

Market was down and seemed to be trending down.

$NUGT shot up after open and I added twice along the way; however, after it reached $8.3x, it began to consolidate around $8.2x.  Seeing that I was sitting on a nice profit, I decided to cash in my win even though there might be some more run left.  Hindsightwise, $NUGT closed higher than my exit point but it was only a last minute dash which I would not know if it could hold.  I’ll see what happen tomorrow before deciding if I want to get back in.

$CREE gap-down due as a result of poor-guidance from earnings report; I took the opportunity to buy some on the cheap.  Unfortunately, there were no bounce and I decided to unload 80% of my morning entry when it looked like it was breaking below $60.00 to take small losses.

I added some $RVLT to accumulate but as price continued to decline, I decided to unload most of my holding as well to see where price would go in the near future giving that the general market was on the down trend mode.

To raise cash, I also sold 2/3 of $CCJ.  By day end, I decided to sell the rest to raise more cash in case the general market down trend continued.

Being in a selling mood.  I then decided to reduce position size on $PACB and $ONVO to lock in some profit.  By day end, I sold the balance of my $ONVO for breakeven.

I also reduced my position size on $UCP by half.

I also sold the rest of $INO at breakeven since I wanted to raise cash to be cautious.

There was one position that I actually bought which was $NCTY.  Seeing the bounce, I decided that my rationale for selling yesterday because of the similarity of the name to the failed $ECTY was nonsensical.  The bounce looked tempting so I bought back some share for next week earning announcement.

By the end of the day, I raised my cash level to 43%.

Current holdings:

LRAD, AMRN, CLIR, NCTY, UCP, PACB, CREE, RVLT and 43% cash.

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Categories: Daily trading Journal

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