Market opened a bit higher and then proceeded to climb much higher; but by the end of the day, it gave back some ground.
Again, I was watching $NUGT. The 1 for 10 reverse split had some effect on the opening price- it moved the price up!
When I saw price was heading higher, I added more. Later, when price took out the 20min opening range, I added even more. When I saw price took out yesterday high, I added more so that I was back to full size position. It was a good thing price continued to head higher all day. However, by day end, I decided to sell 50% to lock in profit. With $NUGT, I’ve to be careful about the overnight gap-down situation. I’ve been around to know it can happen so I can’t be too greedy here.
$ONVO price action was strong in the morning so I decided to add more; unfortunately, by the end of the day, price gave back all the gain made in the day. I will see how price behave tomorrow before deciding if I want to lighten up my position.
$PACB was holding well in the morning and when I saw that it was going to bust out of the opening range to the upside, I added more to round up my investment size. Good thing I did ’cause price continued onward the rest of the day.
$CORN was on the defensive all day so I decided to put a hard stop a bit below the half-way point of yesterday bar which happened to be also below the S1 of the pivot point calculation to lock in some profit if the stop was hit. Well, my stop was hit and I moved on.
$RVLT was struggling all morning and price began a stair-step formation to the down side. I’ve had it and sold most of my position to take small losses. Price continued to the south side after I sold.
Meanwhile, $CLIR gave back some ground while $LRAD held its ground.
LRAD, CLIR, CREE, PACB, AMRN, ONVO, NUGT, RVLT and 36% cash.
Categories: Daily trading Journal