“What are you waiting for?,” you asked.
Well, I’m waiting for AMRN to blast off because a pharmaceutical company materializes to buy it out. Sub $11 buck or $18 buck, who cares? I am looking for $25+. So, I’m waiting…
I’m also waiting for USU to become significant. “Significance of what?,” you asked again.
Hey, I didn’t know you care so much. Thanks for asking.
Do you know there are only a few countries on this earth that have the capability to refine uranium? USU is the only established company that operates the only U.S. owned uranium enrichment facility in the United States. Do you think our country is going to let this little child to just die even though it is being ignored right now? I don’t think so. One day, some of you may regret for not buying at sub $1. Hence, I’m waiting…
LRAD, what can I say about this? I’ve traded this baby for years and it has made me boat load of money. Directional beam sound has its usefulness and it is my belief that eventually all law enforcement and military establishments around the globe will have one of these babies. The only problem now is that every country is in some tight budget; so this is not a top priority purchase item. Due to its low volume and liquidity issue, I don’t trade this one actively. I will just wait until the company starts taking big order or become a takeover target. Waiting away I am.
Cash.
I’m sitting on a boat load of cash so I’m waiting to deploy my army. Did I just say army? Pardon me, I meant to say my cash.
Take a look at the weekly SPY chart below:
Did you see the similar pattern in November 2011? I remember receiving comments on my November 2011 post on “catching the falling knife” implying that “the sky is falling”. I’ve a good feeling that we are near the bottom of the correction. Did you see how this week bar touch the 61.8% retracement level? I’m deploying my army to procure some DDD and RIMM today.
Like everyone else, I’ve given back some gain but is still ahead for the year. Perhaps, just perhaps, one of my three musketeers (AMRN, USU, or LRAD) will hit a jackpot and propels me to a stellar return for 2012.
Other than mindless conjecture on my part, I’m just waiting.
One more thing, I’ve been posting my trading activities using the comment area of my last post for the last two months and have noticed that there are some of you who read my journal. I want to thank you for your attention. May luck follows you as well. Believe me, we need all the luck in this volatile market.
Trade well!
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Added to RIMM position I bought this morning. Now half-size position.
Bought FB. Despite my doubt with the new unlocked shares; nevertheless, you can’t fight the flow- it is going up!
AMRN isn’t making it easy here; so I will have to continue to sit and wait… no, I’m not averaging down; otherwise, I’ll be in a lot of hurt. Knowing my exact risk from the get go allows me to hold steady against volatility.
Sold FB to lock in profit. It occurs to me that a strong up market day will be the day the unlocked shares may be released. Remember, these guys with unlocked shares do not want to tank the market by dumping; they like to dump them in an up day like today.
Stopped out of my RIMM position to lock in profit. I don’t like the fact that RIMM does not have an up day when everyone is.
I bought a small piece of AAPL & SZYM last Friday before market closed
Now holding AMRN LRAD DDD USU AAPL SZYM & 52% cash.
Stopped out of AAPL to lock in profit.
Bought back RIMM. I expect to see teen before the launch of the new BB10 in Jan 2013. The way I see this, this baby wants to go up badly!
Bought starter position on GLOG.
Now holding AMRN LRAD USU RIMM DDD GLOG & 56% cash
Added to RIMM. Now in full size position. I’ll not be surprised if it closes above $12 today. However, I’ll be more mindful going into Monday.
Reduced RIMM position by 60%. I did not like the way it was selling off into the close. Today bar is forming into a doji bar which can lead to an island top. Need to temper my greed.
Added to GLOG position (3/4 position size)
Now holding AMRN RIMM LRAD GLOG USU DDD & 41% cash
Bought back most of the RIMM I sold last Friday. No, I did not regret selling some last Friday to lock in profit. By giving up “some” profit, I also protect my downside risk. Considered the higher price I paid to buy back my shares as insurance premium.
Also added more DDD.
Stopped out of my entire RIMM position to protect profit from last week. Will look to buy back at lower price.
Bought back half-size position on RIMM. Strong comeback in mid-day keep this runner moving.
Sold DDD & GLOG to lock in profit.
Sold RIMM to protect profit
Now holding only the three musketeers (AMRN, USU, & LRAD) & 65% cash.
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Bought starter position on SKF. Will add more if price action continues in the same direction.
Added more SKF with stop at intra-day low.
Stopped out earlier but bought back in due to strong mid-day come-back.
Now holding AMRN, LRAD, USU, SKF & 55% cash
Bought back RIMM which happened to fill the gap from four days ago. Stop at intra-day low.
Moved SKF stop up to protect profit in case of mid-day market rally.
Moved RIMM stop to breakeven in case the morning snap-back rally failed.
Stopped out of SKF for profit.
Bought starter position on DDD.
Added to DDD. Look like the 3D printing industry (aka additive manufacturing) is becoming more and MORE relevant & significant.
Even the morning downdraft couldn’t put a dent in DDD.
Now holding AMRN LRAD RIMM USU DDD & 52% cash.
Sold RIMM to lock in profit. After the gap-up, I moved my stop to $12 and it got hit.
Moved stop to breakeven for DDD. The surprised turn-around after morning up did not sit well with me.
Stopped out of DDD at breakeven.
Bought back RIMM per intra-day technical signal. Today correction form gap-up seemed to “fill the gap”.
Bought back DDD.
Will monitor DDD & RIMM.closely.
Bought starter position on FB (low $27) with a close stop
Bought EMAN.
Bought PCS.
Now holding AMRN LRAD RIMM USU DDD EMAN PCS FB & 41% cash
Stopped out of FB for small loss.
Sold DDD to cut losses. Look to buy back at lower price.
Added RIMM due to strong upward momentum in price action.
Bought back DDD. It looks like it found support at $45 level.
Reduced RIMM position size by half to lower risk.
Sold the rest of RIMM position to protect profit I made in November. I will see where the wind blow next week before jumping back in,
Chart pattern for the last 2 days doesn’t look ideal to hold into the weekend.
Now holding AMRN LRAD DDD USU EMAN PCS & 49% cash