Today was an interesting up day.
$BCRX opened down and I sold to take small losses. Yes, it was a gain yesterday and I gave it all back; but that was the deal I was going for when I decided to hold instead of taking profit. In other words, I was gambling with my yesterday paper gain for a bigger win today. My bet was wrong so I bailed first and then sat back to see what was happening. What happen after I sold was that price filled the gap from yesterday and settled down before climbing back slowly to the 1.7x area. Once I saw the gap was filled, I bought back a starter position around the low $1.7x and put a stop below the intra-day low. I was not stopped out when market closed.
Next, $DCTH was down due to news of their laying off people to reduce cost. This was a mixed bag of news but I sold my whole lot quickly and waited for price to settle down. To me, cutting cost is always a good business move; thus, once the selling was done, I bought back a starter position to see if it would go back up. I was not stopped out when market closed.
Giving that both $DCTH and $BCRX was not faring well at the open, I took my money out from $MNKD when price began to trek lower after heading up. I got out at breakeven. Later, $MNKD trekked back up but I chose to ignore it because I wanted to scale back on the number of biotech stocks.
$SZYM acting like it wanted to go back up badly so I began to add more to my position to slowly build it back up to where I was before. I’m not giving up on $SZYM yet.
$FB continued to correct but I was feeling that it might begin to turn today based on indicators on 15m and 3m charts; therefore, I bought back $FB shares and my stop was not hit when market closed.
With market continued to soar in the latter half of the day, I decided it was time to buy back $DDD, $CHK, and $DNN. I bought all three even though they were already up most of the day. I didn’t buy $CCJ because I didn’t see the “calling” from the chart.
I also bought starter position on $PACB to take advantage of today correction from yesterday jump.
I’m still holding the $S, $AIG, $APRI from yesterday even though they were correcting a little bit today.
Current holdings:
LRAD, AMRN, SZYM, TINY, DDD, APRI, FB, CHK, AIG, S, PACB, DCTH, BCRX, DNN and 28% cash
My 2 cents.
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