Today Portfolio Adjustment (04-19-2013)

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Today was like a drop of sunshine on my face.

The morning open was quite intriguing.  Dow Jones was down but the SP500-emini was up.  It was very rare to have DOW and the SP500 diverted away from each other.  Upon looking at the DJ30 watchlist, $IBM, $GE, & $HPQ were the culprits.  It was almost comical to watch how the SP500 and the DJ30 dueled with each other all day trying to get a upper hand.  At the end, the SP500 won over by dragging the DJ30 back into positive area.

Well, believe it or not, I bought additional shares of $AMRN today as a swing trade with a stop below yesterday low.  Now, some of you may say, “Hey, what happen to your ‘NEVER AVERAGE DOWN’ swan song you’ve been preaching all this times?

Now, now… I’m not averaging down with no stop in sight for these new shares I’ve bought today.  I bought these shares with the expressed intention to dump it if my stop below yesterday low was hit.  In other words, while my core position shares have no stop (my loss of original investment is my worst case stop); these new shares don’t share the same flexibility.  However, if $AMRN continues to climb from here, I’ll eventually move my stop for these new shares to the breakeven point using a GTC (good till cancel) stop.  If prices continues on without hitting my breakeven stop, I’ll be riding $AMRN back up with more shares than original.

Now, isn’t it a swell plan?  I’ve this conditional average down scenario that will benefit me if $AMRN bottoms here; on the other hand, if $AMRN continues to head south even more, I’ll be back to my original shares with a swing trade losses which is no difference than a losses from another swing trade of another stock.

$PACB opened and headed higher right out of the gate, I immediately jumped in and bought back shares.  Let’s see if I can get a V-shape bounce from here starting next week.  By end of day, I’m in the money on this one.

$CERS offered the same opening pattern of $PACB and I jumped in as well.  I was well into the money until the last hour dumping put me back into a precarious position.  I immediately sold half of my position  and is now taking a small paper loss on the book.

$FB acted positively in the morning and I bought starter position.  $FB’s yesterday low was near the support established by the low of 02/28. Therefore with today positive opening, I didn’t hesitate to jump in. Later on I moved my stop to breakeven and was stopped out. And when the bounce came after I sold, I bought back in again.

$BCRX was refusing to tank so I bought back in a starter position.  However, toward the end of the day, price began to weaken so I sold half of the position I bought to minimize exposure.

$SZYM was actually quite volatile today despite being an up day.  After the gap-open.I waited for the retracement before I started adding.   Later on, $SZYM began a slow climb up and was looking strong all day until the tail end when it gave back half of the day gain back.  Seeing how much this stock wanted to go back up, I decided to hold on to what I added today.  After all, it was still an up day today.

As I scrolled through my watchlist, I found $AAPL to be enticing because of the three technical signals I saw. See here. I decided to buy a starter position and placed a GTC stop order below today low.  My stop wasn’t hit today but I am in the red currently.  Since this is meant to be a “bottom catcher” play.  I’m willing to risk the amount where the stop is.  If $AAPL wakes up next week, I’ll be fine; if not, I will take the loss.

Current holdings:

AMRN, LRAD, SZYM, TINY, AAPL, FB, PACB, CERS, BCRX, APRI and 34% cash.

Have a great weekend!

My 2 cents.

@tradingmy2cents

The trades I made in the journal were time-stamped in twitter

Comments are closed.
Previous Posts by Zenhunter

Today Portfolio Adjustment (04-19-2013)

178 views

Today was like a drop of sunshine on my face.

The morning open was quite intriguing.  Dow Jones was down but the SP500-emini was up.  It was very rare to have DOW and the SP500 diverted away from each other.  Upon looking at the DJ30 watchlist, $IBM, $GE, & $HPQ were the culprits.  It was almost comical to watch how the SP500 and the DJ30 dueled with each other all day trying to get a upper hand.  At the end, the SP500 won over by dragging the DJ30 back into positive area.

Well, believe it or not, I bought additional shares of $AMRN today as a swing trade with a stop below yesterday low.  Now, some of you may say, “Hey, what happen to your ‘NEVER AVERAGE DOWN’ swan song you’ve been preaching all this times?

Now, now… I’m not averaging down with no stop in sight for these new shares I’ve bought today.  I bought these shares with the expressed intention to dump it if my stop below yesterday low was hit.  In other words, while my core position shares have no stop (my loss of original investment is my worst case stop); these new shares don’t share the same flexibility.  However, if $AMRN continues to climb from here, I’ll eventually move my stop for these new shares to the breakeven point using a GTC (good till cancel) stop.  If prices continues on without hitting my breakeven stop, I’ll be riding $AMRN back up with more shares than original.

Now, isn’t it a swell plan?  I’ve this conditional average down scenario that will benefit me if $AMRN bottoms here; on the other hand, if $AMRN continues to head south even more, I’ll be back to my original shares with a swing trade losses which is no difference than a losses from another swing trade of another stock.

$PACB opened and headed higher right out of the gate, I immediately jumped in and bought back shares.  Let’s see if I can get a V-shape bounce from here starting next week.  By end of day, I’m in the money on this one.

$CERS offered the same opening pattern of $PACB and I jumped in as well.  I was well into the money until the last hour dumping put me back into a precarious position.  I immediately sold half of my position  and is now taking a small paper loss on the book.

$FB acted positively in the morning and I bought starter position.  $FB’s yesterday low was near the support established by the low of 02/28. Therefore with today positive opening, I didn’t hesitate to jump in. Later on I moved my stop to breakeven and was stopped out. And when the bounce came after I sold, I bought back in again.

$BCRX was refusing to tank so I bought back in a starter position.  However, toward the end of the day, price began to weaken so I sold half of the position I bought to minimize exposure.

$SZYM was actually quite volatile today despite being an up day.  After the gap-open.I waited for the retracement before I started adding.   Later on, $SZYM began a slow climb up and was looking strong all day until the tail end when it gave back half of the day gain back.  Seeing how much this stock wanted to go back up, I decided to hold on to what I added today.  After all, it was still an up day today.

As I scrolled through my watchlist, I found $AAPL to be enticing because of the three technical signals I saw. See here. I decided to buy a starter position and placed a GTC stop order below today low.  My stop wasn’t hit today but I am in the red currently.  Since this is meant to be a “bottom catcher” play.  I’m willing to risk the amount where the stop is.  If $AAPL wakes up next week, I’ll be fine; if not, I will take the loss.

Current holdings:

AMRN, LRAD, SZYM, TINY, AAPL, FB, PACB, CERS, BCRX, APRI and 34% cash.

Have a great weekend!

My 2 cents.

@tradingmy2cents

The trades I made in the journal were time-stamped in twitter

Comments are closed.