Weekly thought on $CARA, $DMRC, $IBIO, $LEU, $XONE

Think I got it right this time…

What’re you referring to?

Last week, I stated that I will approach the market with the mindset of a militia engaging in guerrilla warfare tactics.  Thus, I’m going into a stock with the goal of taking short-term profits as a primary objective while the long-term potential will be the secondary objective.

A perfect example of my sticking to this new approach is the trade I made on Thursday when the market tanked early in the morning and then spent the rest of the trading hours rallying to close the day almost unchanged. The market opened lower on Thursday and I was already biased to the downside; therefore, I bought $TZA with most the cash that was free-up that day.  Obviously, I was quite happy to see my bet paid off and was amazed at how quickly the price kept advancing in the morning.  $TZA don’t usually make big move in a day so it was quite exciting for me to see it happening.  Normally I would dream of a market crash ahead of me giving that $TZA price action already took out the highs of the last 24 trading days. “OMG! This is it! The market is going to crash! Got to hold on for big profit to come!”  And with such mindset, I would hold on to my position and risk giving back the gains.  Now, I had done this many times and the two big ones were my $DMRC and $SEED trades mentioned in my prior posts.

Nevertheless, with this $TZA trade, I made a conscious decision to take my profit when price broke out of the $20 resistance.  “Wait! Forget that big big profit for market crash to come. The odd of price going higher from here is not as good as the odd of a correction to come. Take the money!”  Basically, despite my greed, there is now a voice in my head that reminds me to take profit and I am to take heed of such reminder.  I sold $TZA when price was struggling in the $20ish.  And I didn’t sell at the top either since price went further up after I sold; but I didn’t care anymore. I was just happy with the nice profit for the day.  Of course, in hindsight, it was a perfect decision since I would have given back the profit if I ‘d held. As they say, once you see success after following through with an action based on a plan, it can reinforce my resolve to stay discipline to stick to the plan  I’m sure you will hear more of my ability to stick to the plan in my future posts. The point here is that if I can do it, so can you. And if I’m struggling with it, you’ll understand that you’re not alone in this struggle.

Asides from the $TZA trade, I was trading in and out of $CARA & $LEU early in the week but bought them back by Friday.  My foray into $DUST & $NUGT was a bust and I was wondering if I was wasting my time and energy trading those two volatile stocks.  I’m actually quite clueless in which way the gold price will go. My dimestore economic theory apparently is not based on solid matter but some flimsy postulation. Despite my win in $TZA, the gain was offset by losses on the gold miners trades and drawdown on $LEU for the week.

I did add a few more stocks to port this week: $DMRC and $XONE.

With the NRF (Retail’s Big Show 2017) going live next week, I believe $DMRC may be getting a new kind of attention this time around.  Perhaps there will be subtle understanding that the adoption is only a matter of time. A direction that everyone thinks is going to happen soon. Thus, it is my take that instead of following last year price action of lowering price after the show, price is going to start climbing in 2017. I may add more next week since I only have a standard size position right now.

I can’t help but getting the feeling that 3D printing technologies are going to become relevant again under President Trump’s stimulus packages. I like $XONE over the other bigger competitors ($DDD, $SSYS) ’cause this is still a baby relatively speaking.

xone_weekly

From the weekly chart above, there seems to be a floor here (strong support) at $9.15.  I’m going to see how long I can hold this one before I take profit.

Yep, still in $IBIO and is still very excited about this one.  One of these days, we are all going to be surprised, shock even, of how this one flies. Patience is the virtue here. Watch the video again!

Thanks to my win in $TZA, I could afford a neutral week despite other losses from trading in the volatile market.

Current positions:

Main port (no margin): IBIO   CARA  LEU  XONE  DMRC and 43% cash. (up 7.6% YTD)

Trading port (with margin): MENXF down 9.5% cumulatively on positions only. Also holding IBIO & GRWG.

My 2 cents

From my camera:

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Categories: Daily trading Journal, trading journal

Tags: , , , , ,

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