Market opened with a bounce and it stayed up the entire day.
$INO opened down and I began to ponder taking some profit when I still could. I started off by selling 30% near the open. And when price began to climb back near yesterday close, I sold the rest and considered myself lucky that I was able to keep most of the profit from yesterday. Yes, price did continue to climb all the way to $1.90 before selling off below my exit point. Yes, it would be nice if I could wait another half-hour before taking profit; but in the land of bio-tech, half-an-hour is a life-time when you are thinking about locking in profit or giving it all back and more. I had no regret. I was just happy to be able to bank more coin on this one.
I tried a starter position on $NUGT again since it opened strong; I even added a bit more later when the upper band of the opening range was taken out. However, I carefully placed tight stops to get out pronto since I didn’t want to give this trade any room to breath. It either works or it doesn’t It didn’t and I was stopped out for only a tiny give-back to my overall profit I made from this one.
$CREE looked good at the open and I bought some. Still holding it by day close.
$CORN looked bad at the open so I dumped it for small losses. Good thing I did since price continued to head south by a mile.
$RVLT was the highway bandit today ’cause I was fooled by the slowly uptick in the morning. I continued to add to the uptick and then, Wham!, price dropped like a rock. I immediately dumped my position for losses and licked my wound. It was a small cut but nothing to cry about. I still hold a starter position for monitoring purpose.
$AMRN traded down after open but began to climb. Sensing that the climb might be more persistent, I decided to buy back the 50% core I sold. Now, I’m back to 100% core. If price action takes out $6 tomorrow, I may add swing trade position to it.
I’ve been eyeing $AUDC for a while and was waiting for it to correct so I can buy some on the cheap. But price would not correct so I just threw in the towel on waiting and bought a decent size position.
LRAD, CLIR, AMRN, PACB, AUDC, CREE, RVLT and 39% cash.
Categories: Daily trading Journal