05-18-2015 Journal- $LRAD, $NUGT, $LEU

Where’s everybody?  The market made new highs but I didn’t hear any cheers and shouts as we should be hearing.  It was rather a “luke-warm” new high.  A reluctant bull I dare say.

DJ-30 daily

Seeing the lack of enthusiasm and some slightly dips below water after opening, I got a “calling” that I needed to raise cash.  It was just an overwhelming sense of obligation that I had to sell something to raise cash.  Seeing that $DMRC had some bids underneath that I could sell to, I started to peel off my position pieces by pieces.  While only giving back a little profit from last week, I was disappointed that price rallied over a buck without me on board.  And that is the price I’ve to pay when I sell to raise cash and reduce risk.  Despite missing the extra-profit today, selling to raise cash and reduce risk will always be a part of my trading process.  More often than not, selling to raise cash saved me from larger losses many times over that missing a few rallies here and there is a small price to pay.  Btw, just ’cause I felt the need to sell doesn’t mean I’m always “right” about the coming market correction.

Next, I sold $AMRN.  Although I mentioned that $AMRN has a powerful support from three converging MAs, I’m always mindful about the general market first.  And this is the main reason I always started my journal going over the $SPY or $DJ-30 first.  When a storm comes, most trees will bend to the direction of the gale.

I then worked on selling 50% of $LEU pieces by pieces.  I was going to hold $CERS but seeing price was taking a tumble, I decided to sell now and buy back later.

CERS_daily

Another thing that bugged me to sell $CERS is that price had fallen below the 79 & 89 support lines.  Not only that, it also fell below the mini-uptrend line.  Price eventually bounced back up nicely with a long-tail underneath the bar.  Price barely made it back to the 79 MA though.  It is important that price bounces back higher and close above the 79 & 89 MAs to maintain a bullish tone.  Anyway, I’m out and now I’ve to look for a spot to get back in later.

After all the selling, my cash balance ballooned up to 46% with only $LRAD, $NUGT, and 50% of $LEU.

$NUGT is struggling to stay above the 79 & 89 MA lines.

NUGT_daily

As long as price is on or above these MA lines, I’m happy.  Still holding, neither added nor reduced.

$LEU dropped to red after an early green bar.

LEU_daily

I’m not surprised of the drop since most uranium stocks were correcting as well.

$LRAD is the hero of the day.  It singlehandedly brought my port back up after missing out on $DMRC and taking losses on $CERS, $AMRN, 50% $LEU.

LRAD_daily

Price bounced back up above the 79 & 89 MA lines and out of the consolidation box.

Thanks to $LRAD rally, my port gained 0.50% for the day with YTD gain at 17.2%.

Current holdings:

LRAD, NUGT, $LEU and 46% cash.

My 2 cents.



Categories: Daily trading Journal

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