Today was a golden day.
Market continues to yoyo all day.
At the open, I watched $DUST because I was intrigued by George Soros’ large call option position on GDXJ as alerted by rogue wave in his reply to The Fly’s post. The only way I would see a potential bottom on $NUGT was that the double-top on $DUST proved to be a strong resistance. After seeing the $DUST could not hang on to the high even with an pre-market high of $120+; I saw a potential bottom play on $NUGT with small risk giving that the intra-day low was so close to my entry point.
I waited and price began to climb; I then added more later. After a few hours of not watching $NUGT, I was surprised to see how high price action had gone up. I immediately put a protective sell-stop to lock in decent profit if price retraced to below recent pivot low. I was stopped out later. However, by day end, momentum for $NUGT was very strong. Seeing such powerful surge, I bought back a starter position (as higher price than I stopped out for) and then continued to add when price continued to climb higher. By day close, I’m still in the money with my GTC stop still in place below the recent pivot low using 3m chart.
$APRI was higher after open so I added a bit more. There wasn’t much movement afterward so I left it alone.
Unfortunately, $CERS was showing a bearish engulfment candlestick in late afternoon so I decided to close out my position to lock in profit. I tried to give this one more time but I couldn’t hold a bearish engulfment candle overnight when I had profit to take.
$TINY had a nice up bar today probably due to continued price increase on $SZYM.
Meanwhile, my portfolio continues to take heat from $AMRN and $LRAD.
Edit: forgot to mention that by day end, $CERS recovered some so I bought back a small starter position.
That was pretty much the action for my day.
Current holdings:
AMRN, LRAD, TINY, NUGT, GLUU, DNN, APRI, CERS and 35% cash.
The trades I made in the journal were time-stamped in twitter
If you enjoy the content at iBankCoin, please follow us on Twitter
