Don't pay dollar to keep 2 cents when wrong. Cut your losses quickly. Trade what you see, not what you think.
Joined Oct 26, 2011
719 Blog Posts

Today Portfolio Adjustment (04-22-2013)

Today was peek-a-boo bull.

Market opened up and proceeded to head lower from there.  For about an hour after open, $SPY continued to head lower and to avoid being trapped into a waterfall down day, I started to liquidate most of my swing trade position.

First thing I did was to sell my $BCRX for small losses.  Price action was defensive from the get go and it was time to let it go.

$PACB, $CERS and $APRI were also not holding well and I dumped them quickly for small losses.

$SZYM was also under pressure.  I started to unload this one by chunk and before I knew it, I sold the whole thing in the morning.  My past experience with $SZYM was that this stock would drop like a rock rather quickly if I overstayed.  However, later in the day, $SZYM began to climb back up.  When I came back to look at the chart, I immediately bought back some shares.  And when prices continued to head higher, I bought back some more to bring it back to 70% of my original position.  Yes, I paid a premium to buy them back.

My current observation in $SZYM is that it is no longer following the old path it has taken.  Down day is now bouncing back up quickly before day is over.  I believe there are more buyers watching this stock now.  I need to evaluate if I should change my strategy on $SZYM to cut down the “quick sales” and give it more room to breathe.  My action today cost me some profit opportunity due to not holding my original position intact; but then this is hindsight talking.  Nevertheless, new information has been provided so I will take that into consideration.

I elected to move $FB stop to breakeven instead of jumping the gun to take profit and I’m glad I did.  As of now, I’m still in and has not been stopped out yet.

Unlike $FB,  I decided to take my tiny losses when $AAPL climbed back up  near my entry point this morning when I saw the over-bought signals on the momentum indicators.  Later on, I went back with a close stop and got stopped out in no time.  About five hours after open, $AAPL prices began to find support on the 89xma.  I decided to buy back in and wait.  I was not stopped out by day close even though price action gave back some territory in the last 15 minutes.  It’s all come down to earning announcement after tomorrow market close to confirm if we are seeing a bottom on $AAPL.

I saw the chart on $GLUU and I felt a calm sense that this one might be ready to bounce.  Just because I senses something doesn’t mean anything or that the price has to go up.   All it means is that there is not a lot of hesitation in me to buy this stock.  I just bought it after glancing it for a few minutes.  Currently, I’m under water for small paper losses.  I’ll see what price action will do tomorrow before deciding my future action on this one.

Current holdings:

AMRN, LRAD, TINY, AAPL, SZYM, FB, GLUU and 40% cash.

My 2 cents.


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

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