11-06-2013 Trading Journal

Market was up today but…

the stocks on my quote machines were all red!

Granted that lot of them were high beta stocks; but still when I saw that many red quotes, it usually meant the first leg of cashing out.

I was getting slaughtered today since practically all my stocks in my portfolio were being sold down.

It all started normally with DOW up nicely at the open.  Since I reviewed the charts of $GMCR and $AUDC the night before, I bought these two stocks after the market opened.  On top of that, I even added to $PXD. All were fine and dandy until I was stopped out of $PXD on my new add.  That was quick!  And before I knew it, the rest of my $PXD was stopped out as well.  Good thing I placed stop ’cause price continued to head southbound after I was out.

Then both $GMCR and $AUDC began to sink underwater right away.  Seeing the speed of the fall, I immediately placed a stop below the lower opening range and was promptly stopped out not long afterward.  I waited till the closing bell before I sold $AUDC to cut losses.

I also bought some $AMRN for the bounce after open since price was going up.  Even this one could not maintain bounce despite the fact that price had come down so far already.  I dumped it immediately to avoid compounding my already large realized losses.

Next, my moment of joy seeing $GALE opened high and reached over  $2.4x was short-lived.  While I was busy managing the losses of my other stocks, I was surprised to see the turn of event on $GALE.  Seeing price was hitting the price of my last add, I immediately unloaded 2/3 of my position to lock in whatever balance of profit I still had.   Later, I decided to sell the rest since the red bar on the chart did not look appealing at all.

$CERS was no better, Once I got into selling mode, cutting losses became a force of nature.  I didn’t have to think about it.  All I have to do was to look at the chart and I knew what I had to do- sell to cut losses.  I sold all my $CERS position before it went under $6.

$KNDI was showing a lot of fight to maintain the $6.8x level against the gravity but failed at the end. By the time I sold $CERS, selling $KNDI seemed effortless.  Since I like $KNDI for the long-term, I decided to unload 2/3 only.

The only two stocks I didn’t touch are $LRAD and $KGJI.  For the reason that the executives from $KGJI will be in the US to do the road show and a possible “fantastic” quarter in earnings, I decided not to sell this one.  And for that, I took heat with today downdraft since it is a fairly large position.

$LRAD is a long-term hold and I already learned my lesson last time from having to buy them back at premium.  As with $KGJI, I’m taking heat on this one as well by not selling down my position.

To supplement my bearish sentiment, I bought a starter position on $SPXS and later added more before closing bell.

In summary, for today, every single stocks in my portfolio went down.  Oh well.  Moving on.  The bright side is that I was able to cut my losses for most of my stocks before the continuation of waterfall price action.

Current holdings:

LRAD, KGJI, KNDI, SPXS and 63% cash.

My 2 cents.

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Categories: Daily trading Journal

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