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 (05-16-2013)

Today was a fighting day.

Market opened down and then yoyo through out the day before finally collapsed into a mini-correction.

First thing first, $AAPL opened down and I was stopped out of my long position due to my hard stop from yesterday.  Not to be discouraged, I watched for a bounce and when price action began to rally, I immediately bought back shares and rode the rally back up.  I used a trailing stop and was stopped for gain.  Since I didn’t buy at the bottom for the bounce, I was still short of recovering from the morning losses.  So I waited to see if $AAPL would continue to rally from the mini-retracement that took my trailing stop out.  Price action bounced off the retracement low and I bought $AAPL back for the continuing rally.  By end of day, I took profit again to bring my day to breakeven on my $AAPL trade for the day.  Giving that I lost quite a bit on the gapped down, I considered today a wining day for me since I was able to recoup my losses.

$APRI had a big rally yesterday due to the fact that $APRI had a 8K report announcing that they took off the “poison pill” in their company setup.  Speculation on takeover drove the price up in the morning.  Not to miss a good speculation jump, I bought a bunch in the morning and watched my position turned green quickly.  And when it started to turn south, I placed a stop and was promptly stopped out to lock in profit.  If I had sold at the market instead of wasting my time to place a stop loss, I probably would make more money.  But then this is hindsight talking.  Due to the speed of a fall, I was able to keep only 20% of my gain.

$MNKD opened up but was taken down by profit-taking.  Not to miss the boat, I unloaded my shares as well using a trailing stop to protect profit.  Later when price stabilized, I bought back a starter position only.

Since I had a hard stop on $NVAX below the trendline, my stop was hit and I was out in the morning.

I saw $CCJ continue to march higher; instead of chasing it, I decided to buy $DNN which was still working on the bouncing momentum.  I added more later when price began to move up.

Seeing that I missed $DUST yesterday, today retracement gave me an opportunity to buy back some.  The setup looked perfect with a close stop for a small risk trade.  By end of day, I am still in the money.  My stop is still in place because I’ve used a GTC order.

I bought $BID after reading The Fly’s thesis on it.  Seeing that it had retraced quite a bit during the day, I bought a position for the bounce.  Unfortunately, price continued to fall further down and I finally put a stop below the intra-day low after a bounce.  No luck.  My stop was taken out and price fell further down.  Moving on.

$CERS continued to rally more and I remained long by sitting on my hand to prevent it from pushing the button to take profit.

Current holdings:



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

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  1. ST

    What is your target or exit point for DUST ? Thanks Zen.

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    • Zenhunter

      Hi ST, I like to see $DUST take out the previous high @ 119.63. That will be the 1st target. If price touches that high and retraces, i will put a stop around there to protect profit. If it takes out that high and more, I’ll move my stop to below $119.63 for my trailing stop. Meanwhile, I’ll continue to monitor price action so as not to let this trade turn into a bigger loss than I plan for. Hope it helps.


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