Today definitely was not a boring day.
$FB opened strong and I added more. However, later on price began to take a dive and I moved my stop to breakeven. Could this be a trap? Boy! Was it closed! I was almost stopped out but there were enough buyers coming back to bid the price back up. Seeing a bounce happening, I added more. Later on, when the Facebook new home app was announced, price action started to kick off to the upside. I added some more before it took out $27.00 resistance.
I’ve reason to believe this new “home app” is what Facebook needs to take off from here. In practical speaking, this isn’t a bad idea at all. I think I’ll create a Facebook account just so I can install this app on my Samsung Note II smartphone. This is almost like a Steve Jobs’ kind of idea. Don’t you think?
After I added $FB, I also bought back small starter position on $DCTH, $MNKD, $POT because I wanted to be back in these position giving that there were no waterfall price action on the general market. In other words, there were no follow thru from yesterday bad-ass bearish engulfment bar on the $SPY.
I also like $CCJ since the price action was near the low of late December and early Jan support. It is a good risk/reward ratio. Being back on uranium, I’ve to buy $DNN too. To me, $CCJ and $DNN go together.
I also bought starter position on $DDD; but this one was for naught since I got stopped out later for small losses. I didn’t look at it again for the day; thus, I missed the late day bounced back.
I was stopped out of $MNKD since I put a close stop. But seeing that price did try to bounce again, I bought back a smaller batch. I added more later when the bounce became stronger. I decided to give it room to run around; therefore, I left it alone for the day.
I also bought $AAPL for a daytrade when I saw some stabilization on the price but was stopped out for small losses.
Then I saw $IMUC during my stocks patrolling. It bounced beautifully off the uptrend line so I bought back my shares I sold awhile ago for small losses. I like to remind you again and again that you have a very good chance of buying back your stocks if you cut your losses fast for a much lower price. Not that it will happen all the times but it happens often enough such that you should not feel too worry about losing your position if you bail out earlier to take small losses. This is strictly a swing trading tactical maneuver.
$SZYM was really bugging me so I decided to sell the rest of my lot so I didn’t have to waste time watching it. But I will buy it back if it shows some sort of bottoming out pattern. I’ll probably have to pay more to buy it back; nevertheless, I get to be free of this nasty thorn on my butt for now.
$POT was acting neutral after a strong early bounce so I decide to hold it for tomorrow.
I also bought $APRI back but forgot to post it on twitter. Oop! Since I only bought a starter position, I left it alone all day also.
Current holdings:
LRAD, AMRN, FB, POT, TINY, DNN, IMUC, APRI, CCJ, DCTH, MNKD and 46% cash
The trades I made in the journal were time-stamped in twitter
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