01-13-2014 Trading Journal

The market finally had a decent size correction  to kick off 2014.

Fortunately for me, $GALE had another stellar day which more than offset the corrections of the other six stocks.

$GALE continued to head higher after it made an announcement of its acquisition of Mills Pharmaceuticals that would give its the worldwide rights to GALE-401, a patented, controlled release formulation of anagrelide which is used as a treatment for essential thrombocythemia, a rare bone marrow disease.  Not a bad move, first, it acquired the right to Abstral and now GALE-401; both can have revenues stream coming online to support the NeuVax research.

Gale_daily

While the daily chart looks good, I’m still wary of a correction that may come any time.  Let’s see how price hold on to its gain tomorrow.

Next, after seeing $AMRN began to close below the support at $2.19; I began to restructure my risk exposure.  Instead of holding a large number of $AMRN shares, I decided to lock in some profit from my $1.6x entry by exiting 2/3 of my position.  I then bought more Jan $3 call options to make up some of the shares I sold.  This way, if there is a FDA positive result, I can still participate in the gain; but if FDA denies once again, I will lose mostly on the option premium which will be less than if I still hold all my original position size  if price drop back to $1.5 or lower.

$CERS made a nice attempt to reach $8 but only got as far as $7.85 before the market correction brought it back down to earth.

CERS_daily

With the cash from the sales of $AMRN today, I may add more $CERS provides price doesn’t take out today low tomorrow.

$XONE had a strong morning when price took out $70 resistance; but by the end, the general down market dragged down $XONE as well.

XONE_daily

What I like about the $XONE chart is that price is still above the support (blue) line.

$KGJI couldn’t stay above the $1.85 resistance.

KGJI_daily

This one will require a lot of patience on my end. 2014 has just begun so I’ve plenty of time to wait this one out.

$KNDI, $LRAD, and $TINY were all going thru minor fluctuation so I won’t bored you with the charts.

Thanks to $GALE rally today, my portfolio continued to head higher.

Current holdings:

KNDI, LRAD, GALE, CERS, KGJI, XONE, TINY, AMRN and 4% cash.

Regarding $PHOT on my other account:

phot_daily

$PHOT had a nice bounce today.  Let’s see if price can continue to bounce higher tomorrow.

My 2 cents.



Categories: Daily trading Journal

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