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 (05-17-2013)

Today was a fine day I must say…

Market opened higher, rest a little, then took off to the sunset…

$DUST gapped up and the trade was instantly profitable.  The only thing left to do was to protect profit while letting the price run.  Sometimes you could hit the sweet spot with your trailing stop and ride the trend all the way to the top; and other times, you could be stopped out for a nice profit and left some money on the table.  Today was the latter for my $DUST trade.  I didn’t buy back for the second wind on the price run which came close to the previous high of $119.63 from April because my mind was no longer focus on the stock after I was stopped out.  Remember, once I’m out of a stock with a gain or loss, any re-entry will have to be considered as a brand new trade with its own risk profile.  $DUST, being a 3x ETF, is a high risk trade and I learn not to dip my hand back in after a win.  If I left money on the table, so be it.

$MNKD opened higher but quickly dropped back to negative territory, I placed a close stop after open to protect profit and was stopped out during the retracement.  Today was one of those day where I was stopped out at the bottom and price took off without me.  I know this type of event will happen from time to time and the only thing I can do is to buy back in at higher price so as not to miss the rally.  I waited for a retracement and bought back some shares later.  Unfortunately, by day end, price action took a tumble later in the day. Since the candlestick chart near the end of the day looked like a shooting star reversal pattern in development.  I decided to jump the gun by putting a close stop to protect myself.  I was stopped out for small losses from this re-entry.

$BBRY started down and my put option looked good.  But price action took a new turn and headed up, I sold the option for tiny losses and bought a starter position to go long with a tight stop.  I was stopped out later for small losses.  After two failed attempts, I decided to leave $BBRY along and moved on.

$APRI looked strong which surprised me; so I decided to go along with the speculation and bought some to chase.  By the end of the day, I am still in the money.  Let’s see what next week will bring.

$CERS finally took out the left-hand cup & handle pattern and I bought more.  Price stabilized around $5.50 all day so I decided to sit on my hand again to avoid my temptation to take profit.  After seeing the news that another fund has bought 600K shares of $CERS, I’m beginning to contemplate about moving $CERS into the position trade category.  I see price target of $8 being achievable from here.

I’m taking small heat from $DNN and $GLUU; but I’m willing to wait until next week to decide what I want to do with these the swing trades.

$TINY is beginning to get some attention today from the news that Google and NASA have bought the new quantum computer from D-Wave which $TINY has a stake in.  D-Wave is not the only reason why I like $TINY, I also like the fact that it has a stake in BridgeLux which manufactures LED light with a low cost design.  On top of that, $TINY also owns quite a few shares of $SZYM.  I’ve decided not to chase $SZYM on my own and just be satisfied that I own $SZYM indirectly thru $TINY.

$AMRN has a small hiccup today due to lack of news on NCE (new chemical entity) status from FDA.  Oh well, I need to be more patience.

Current holdings:



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

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