Market opened down slightly and waited all day for the Fed announcement; afterward, price action took a dive, flew up the the sky, and then did a nose dive back to the water. It was quite an exhilarating sight.
First thing first, the 50% $NUGT I carried over from yesterday was stopped out at market open. At price began to stabilize around the $90 level and started to bounce, I bought a starter position. Later when price took out the S1 pivot calc level at $93, I added more. From that point, I placed a hard stop below intraday low to wait out the Fed announcement. Needless to say, after the Fed announcement, price action took a nose dive and took out my stop pronto. But that wasn’t the end of it; price took a full recovery and went straight back up to $93; however, I sensed a bull trap and decided to leave it alone for the day. It was a good thing I did. Price collapsed by the end of the day.
$ONVO had me going back and forth in the morning in which I sold some shares earlier not long after the open when it appeared to drop; however, I bought it back when price took off to the upside later. But the rally did not last. At price sank back under the water and turned into a waterfall price action, I reduced my position back to starter position. Later on after the Fed announcement, I sold the rest of it to raise cash and reduce risk.
$INO opened strong and I immediately sensed a powerful surge was happening. Without hesitation, I bought and bought and built my position quickly. When price took out the $1.50 resistance, I added some more. By day close, I’m still holding my position.
$AMRN acted strong at the open so I decided to buy back the other 50% core to sit on full-size core position. Nevertheless, I sold back the 50% toward the end of the day to reduce risk due to the bearish stance after the Fed announcement.
$CORN opened higher so I bought back a starter position. Since it was only a small starter position compared to my original position from yesterday, I decided to hold it overnight since price action stayed at breakeven level at close.
At the day wore on, $CREE couldn’t hold its gain after the morning rally so I decided to sold 70% of my position to wait out the Fed announcement. After the Fed report, I sold the balance of $CREE and $RVLT to raise cash and reduce risk.
Due to price appreciation of $INO and $LRAD, my portfolio was actually up for the day.
LRAD, CLIR, INO, PACB, AMRN, CORN and 40% cash.
Categories: Daily trading Journal