08-29-2013 Trading Journal

Market was struggling to stay up all day but ended up giving back a lot of ground by end of day.

After the opening range, I added to $KNDI, $AMRN, and $PACB due to strong upward momentum.

I also decided to build a position on $RVLT seeing that it didn’t go further down.  I’ll be looking for a  bounce here.

I bought $CREE when it took out the opening range but added a stop below the opening range; unfortunately, I was stopped out later.

Later in the day, I bought starter position on $CERS to build a position.  I missed the rally from $4.50 and I don’t think I can buy it at the price again.  If it does ever go back down there, I’ll definitely buy a boat load.

I spent a lot of times trading $NUGT today.  I caught the near bottom when price started to bounce off $72 and took out $74 on the way up.  I placed a sell stop below the intra-day low.  As price continued to head higher, I added to the position.   However, at price began to falter after hitting $82, I sold half of my position to lock in profit.  I then placed another stop below $80 to protect the rest of my profit.  My stop was hit and I was flat.

I went back in $NUGT for the 2nd time with a starter position only and a tight stop.  It was to no avail since I was stopped out for a small give-back.

However, by the end of the day when $NUGT bounced off from the upper opening range, I bought back starter position to see if it will bounce.  It did and I added more.  By day close, I still have my position ready for tomorrow.

$LRAD and $AMRN was doing great today.

Current holdings:

LRAD, AMRN, KNDI, PACB, NUGT, RVLT, CERS and 32% cash.

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Categories: Daily trading Journal

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