10-17-2013 Trading Journal

Market opened down but changed its mind to start a strong rally for the rest of the day.

$AMRN gapped down by more than $3 to take the price down to $2 and below.  I was expecting a $2 drop but a $3 drop was way over-sold.  Thus, I took the opportunity to buy back the position I sold before the FDA AdComm vote.  I figured that $AMRN would be more open to buy out with a lower price since it would be tough for them to GIA (go it alone) with the expensive Reduce-It trial.  With a lower price, BP may find its more appealing.  Hence, $2 is a steal per my book.  To supplement the shares I bought, I also took the opportunity to pick up a bunch of March 2014 $5 call option at super-bargain price at the open.  Basically, you could say that I was waiting for the market to open to grab some cheap $AMRN shares.

It was a nice surprise to see $KGJI spiked up; naturally, I added more to round up my position size.

$CALL could not hold it bounce from yesterday so I decided to stop my position out when price took out the lower opening range for a break even trade.

$GOGO took off big and took out the high of 4 days ago, I added a bit more.  Unfortunately, price could not hold the gain and gave back most of the gain at market close.  I decided to hold my position to see what happen tomorrow.

$INO opened higher so I added more.  I like the fact that today price took out the 15 SMA line.

$CYCC had a strong rally today so I added more as well.

Thanks to $KGJI and $CYCC, my portfolio had a decent gain for the day.

Current holdings:

LRAD, KNDI, CERS, GALE, KGJI, GOGO, AMRN, CYCC, INO, APRI, CLIR and 13% cash.

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Categories: Daily trading Journal

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