Market took a dump today and it was ugly.
I’m going to make a short journal today. Suffice to say that my lack of conviction on $GALE costed me a bit since I got out at the bottom of today low and the price bounced back up over $4 without me. I did finally jump back in with a starter position above $4. Oh well…
Meanwhile, the positions that I have plenty of conviction took quite a bath today. Thanks to $LRAD, my largest position, for not tanking today; otherwise, my portfolio would be a lot worse than it already is.
Again, my plan to hold $NUGT for long-term got side-lined again when half of my position was stopped out for small profit. I placed my stop below the daily 5 MA line (based on yesterday 5 MA) but the big dump today took back a chunk of my unrealized gain. Yes, I could have sold earlier to lock in nice gain but again, I’m going for the big buck from long-term hold; therefore, I’ll have to bite the bullet to take these .hits.
Well, folks, welcome to the land of volatility when you start to lean on buy and hold which is basically what I’m doing now.
So far, despite a down day, I’m not worried.
LRAD, KNDI, CERS, KGJI, XONE, TINY, NUGT, GALE and 8% cash.
My 2 cents.
Categories: Daily trading Journal