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 (05-30-2013)

Today was a gold fever day.

Market opened neutral and then took off afterward.

$NUGT gapped up beautifully and I waited.  After a couple of bars (5m chart), I decided to take profit before any possible retracement.  However, price took off not long after I took profit so I bought my shares back after the intra-day high was taken out.  Price was strong in the morning and I was quickly in the money on my re-entry.  Later on, I peeled off some shares to lock in profit but I also keep some for a longer-term play.  Price continued to stay strong all day.

As a result of my taking some shares off $NUGT, I decided to buy some gold minings stock for replacement.  I chose $ABX due to its large size.  The chart looked good for a possible near term breakout.

$UNXL was acting positive in the morning so I bought some shares.  Unfortunately, price action was not doing well later in the day.  I had a mental stop below yesterday low but price did not close below that today.  Instead, price recovered a bit so I decided to hold it for tomorrow.

$TSLA price action took out half-way point of yesterday bar, so I closed out my put option for a small losses.  Later when price action dropped below $105 (put strike price) and turned negative for the day, I bought the put option back.  I’m still holding it for tomorrow price action.

I was watching $CRIS and like the bounce-like pattern on the chart so I decided to buy some for the bounce.  I later added more $CRIS when price continued to climb up.

I believe long-term interest rate will continue to go up so I added more $TBF.

$BCRX had a big green bar yesterday but I was suspecting its ability to hold on to the price level.  Today proved that price could hold well and not dropped back to the low of yesterday.  Therefore I bought a starter position to see if it would take off from here.

$AMRN had a strong recovery today so I was glad to jump back in with my swing trade position yesterday.  Whew!

Current holdings:



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

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