08-19-2013 Trading Journal

The market came up for air in the morning and then sunk back under water for the remainder of the day.

I started the day with my $NUGT stopped out for a tiny “give-back” since I had made quite a bit of money on this one.  Later in the day, $NUGT looked bouncy and I bought back in the full amount x 2 when price action took out the upper band of the opening range.   But the aggressive buy was for naught since price eventually tumbled back down inside the opening range which stopped me out of the “double-up” position.  By the end of the day, my other two hard stops were hit and I was left with only a small starter position to carry overnight.  Still a small give-back overall after today action.

I found $CORN to be appealing over the weekend while looking at the charts; so I had it on my watchlist this morning.  Price was strong at the open and I immediately purchased some.  And when price action took out the upper-band of the opening range and last week high, I added more to get to a decent size.  The unrealized gain on this trade helps offset the unrealized losses on $CREE.

$AMRN fell below $6 so I sold all my swing trade position to lock in profit.  Later, I sold 50% of the core as well.  But when price climbed back above $6 again, I bought the 50% core back.  Unfortunately, by day close, price collapsed again and I dumped the 50% core I bought back.  So, I’m now holding only 50% core of $AMRN   I’m afraid price may drip back down since October FDA Advisory Committee meeting is still far away from now.

$RVLT was weak in the morning and I sold 80% of it to reduce risk and raised cash.

$PACB was looking good with the price bar looking fantastic in the morning; as a result, I added more.  but by day end, price gave back some gain.  I’m still holding all my shares.  There had been some positive news on $PACB sequencer and maybe some BP will end up buying it with a nice premium.

Seeing that the $NCTY earning reports had been pushed to September instead of today, i sold all my $NCTY shares to reduce risk and raised cash.

Current holdings:

LRAD, CLIR, CORN, CREE, PACB, AMRN, ONVO, RVLT, NUGT and 33% cash.

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Categories: Daily trading Journal

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