Today was another neutral day for the general market.
In the same manner, my main portfolio also had a neutral day with three stocks up, three stocks down, and two unchanged.
$AMRN had a huge spike up that last thru out half of the day before it came crashing back down to a slightly positive day.
As we get closer to the Jan 15 FDA decision day, volatility will continue to increase. Let’s see if price can maintain the upswing tomorrow to end the week in a positive note.
There is really nothing much to report for the eight hi-beta stocks in my portfolio today; however, $PHOT had a wild wild day.
At first, price gapped up and proceeded to head much higher. After reaching intraday high of $0.467, it corrected a bit and bounced right back up to $0.46 before yoyo-ing b/w $0.38 and $0.44 thru-out half the day. Then out of the blue, price began a waterfall action that was quite brutal; so brutal that the thought of selling shares entered my mind.
“Get out to lock in profit!”
But then I began to calculate…
“Price is dropping so fast that by the time my order get filled, I may as well get out at the bottom of today range; so why even bother if I still want to buy this stock back later. I may as well be chasing this stock back up which will then increase my cost basis for no reason other than thinking I can time the market perfectly.”
Instead of acting on automatic pilot like I did with $SSYS trade which took me out of the trade and missed the ensuing bounce, I began to wait for it to settle down before picking up some more shares to take advantage of the correction.
Take a look at the daily chart above, if you take away yesterday big jump, today close represents just another small up day.
KNDI, LRAD, GALE, CERS, KGJI, XONE, AMRN, TINY (fully speculated)
My 2 cents.
Categories: Daily trading Journal