09-09-2013 Trading Journal

Market opened with a bang and headed higher the rest of the day.

$INO opened higher but after two 5 minutes bar had passed, I had a strong feeling that profit-taking would be coming en-mass.  As in playing musical chair, the sooner you exit, the better off you are providing that you are willing to forgo any possible spike up in price.  Well, I was willing to forgo any possible further run-up so I sold.  Good thing I did.

$RVLT was holding well after open and I bought starter position after seeing that, on the weekly chart, price was bouncing off the 89xma.  That looked like a good “catch-the-falling-knife” trade with a low risk stop.  As price continued higher, I added some.  What surprised me was that after I added, price spiked up much higher and I wasn’t there to witness it since I had to be away from my desk.  Anyway, I added a bit more during a minor retracement from the top.  But by the end of the day, I got cold feet and sold all my position to lock on profit.  Statistically speaking, there is a chance of correction from profit-taking tomorrow if there is no follow-thru on today rally.  So, I’m playing safe here by bailing first and see what happen tomorrow before deciding if I want to go back in.

After banking coin from $INO, I used some of the money to add to $CERS.

$AMRN was acting like it was “topping out” so I sold my swing trade position to see if I could buy it back cheap.  The down draft didn’t last and price bounced back up.  I was forced to buy back my swing trade for a small premium.

$KNDI was strong all day so I took advantage of an intra-day minor correction to add more share for the bounce.  It did bounce.

Current holdings:

AMRN, LRAD, KNDI, CERS, GOGO, APRI, GALE, ONVO and 10% cash.

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Categories: Daily trading Journal

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