Today Portfolio Adjustment (05-10-2013)

Today was a recovery day.

Market opened with a yoyo fashion.

I like The Fly’s thesis on $IMMR and the chart looked good.  I bought after the open.  As price continued to advance, I added more.  Alas, it didn’t last.  As price started to turn and took out the $14 support line, I began to wonder if I had bought too early.  Once price dropped below $13.80, I had it.  I reduced position size to cut losses and wait for better climate before jumping back in with both hands.  I like the fundamental thesis but not enough to hold it as a position trade even though this is a position trade for The Fly.  In summary, even though I picked a stock somebody like, I still need to trade it according to my own style.

$SZYM continued to run higher after open and I added without hesitation.  When it took out the $10 resistance price line, I added more as well.  Seeing that price action is still positive after the cup and handle breakout, I feel more comfortable holding this one without taking quick profit for now.  I may hold this as position trade if price continue to advance higher.

I saw RaginCajun’s alert on $TSL and $YGE in twitter and decided to jump in on $YGE because I traded this one before.  The risk was low with stop below yesterday low; hence my easy quick decision to jump in after seeing the alert.  Price continued to advance after I got in so I added more.  I started using a trailing stop to protect profit seeing that today is Friday and I was fearful of an en masse profit-taking that would take away my profit when I wasn’t looking.   After getting stopped out, $YGE headed back up before close.  Oh well.  I’m not going to complain about taking profit from a swing trade.

$TINY earnings report reflected that their book value is higher than its current market cap.  Seeing that the market would eventually take price action back to the book value, I added more.  Unfortunately, price action decided to take a yawn and went back to sleep.  Oh well, since this is my long-term position trade, I left it alone.

I saw $AAPL price action tracking in negative territory even though the DOW had recovered back to positive area; this was not a good sign per my book.  I decided to buy a June 7th 455 put option for a roll-the-dice play.  Let’s see where my dice rolls Monday morning.

Meanwhile, $AMRN, $LRAD, and $SZYM were all trending higher today.  Because I’ve large position on these three stocks, my portfolio recovers nicely today.

Current holdings:

AMRN, LRAD, SZYM, TINY, IMMR and 38% cash.

@tradingmy2cents

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

Comments are closed.
Previous Posts by Zenhunter

Today Portfolio Adjustment (05-10-2013)

Today was a recovery day.

Market opened with a yoyo fashion.

I like The Fly’s thesis on $IMMR and the chart looked good.  I bought after the open.  As price continued to advance, I added more.  Alas, it didn’t last.  As price started to turn and took out the $14 support line, I began to wonder if I had bought too early.  Once price dropped below $13.80, I had it.  I reduced position size to cut losses and wait for better climate before jumping back in with both hands.  I like the fundamental thesis but not enough to hold it as a position trade even though this is a position trade for The Fly.  In summary, even though I picked a stock somebody like, I still need to trade it according to my own style.

$SZYM continued to run higher after open and I added without hesitation.  When it took out the $10 resistance price line, I added more as well.  Seeing that price action is still positive after the cup and handle breakout, I feel more comfortable holding this one without taking quick profit for now.  I may hold this as position trade if price continue to advance higher.

I saw RaginCajun’s alert on $TSL and $YGE in twitter and decided to jump in on $YGE because I traded this one before.  The risk was low with stop below yesterday low; hence my easy quick decision to jump in after seeing the alert.  Price continued to advance after I got in so I added more.  I started using a trailing stop to protect profit seeing that today is Friday and I was fearful of an en masse profit-taking that would take away my profit when I wasn’t looking.   After getting stopped out, $YGE headed back up before close.  Oh well.  I’m not going to complain about taking profit from a swing trade.

$TINY earnings report reflected that their book value is higher than its current market cap.  Seeing that the market would eventually take price action back to the book value, I added more.  Unfortunately, price action decided to take a yawn and went back to sleep.  Oh well, since this is my long-term position trade, I left it alone.

I saw $AAPL price action tracking in negative territory even though the DOW had recovered back to positive area; this was not a good sign per my book.  I decided to buy a June 7th 455 put option for a roll-the-dice play.  Let’s see where my dice rolls Monday morning.

Meanwhile, $AMRN, $LRAD, and $SZYM were all trending higher today.  Because I’ve large position on these three stocks, my portfolio recovers nicely today.

Current holdings:

AMRN, LRAD, SZYM, TINY, IMMR and 38% cash.

@tradingmy2cents

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

Comments are closed.