I sold $DCTH at breakeven in the morning, practically gave back all the gain from yesterday run-up. Try a “catch-the-falling-knife” trade by buying under $2 with half-size position but dumped it when it could not hold for small loss.
I sold $BBRY near the opening to lock in profit since price action was tracking down from the start.
I sold $XONE to lock in profit before it turned to loss since both $DDD and $SSYS was struggling in the morning time.
I’m still holding the following biotech stocks:
$AMRN (this is my position trade which make up of 15% of portfolio)
$CGEN. Since I’m still sitting in decent profit from my entry last Friday, I’m going to give it some more room to work it out.
$PACB. Same as $CGEN. I also notice $PACB has a tendency to go up one day and down the next; then up again. As long as the low for the day is still higher than previous day low, I will give it some room to run.
$RPTP. This one is holding well today and the chart still looks good. I like to see it goes to $6 soon.
$SZYM. This one has been extremely difficult for me to trade. Every time I’ve added, the stock will trade down and then I bailed with loss. I’ve done it so many times that my losses actually are growing. And yes, this one always pops back up after I’ve sold as well. So, I’m going to just grind my teeth and hold this one for an intermediate term. The prospect of their new facilities coming online in the near future may drive the stock up sooner or later. (currently 10% of my portfolio)
$LRAD and $USU are part of my position trades (along with $AMRN) since I believe in their future potential (all three positions represent about 40% of my portfolio).
Currently holding 39% cash.
Edit: I added to $RPTP near the close due to its ability to hold the positive ground by end of day.
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What do you think about IMUC? I am in for a trade with a cost basis of 2.20’s. Do you see a future in them?
Hello T, I didn’t see your comment until now. By looking at the chart, the price has been on an uptrend since mid-Nov of last year. And it is now in the ascending triangle formation. The way I see it, your breakeven point is right at the long-term trend line from mid-Nov. If that line is taken out, you could still get out at breakeven.
In summary, I can’t tell you if there is a future in your stock; but you seem to be in a good position to ride this out and still get out at breakeven when the long-term trend line is violated.
Good luck!