Today portfolio adjustment (3-13-2013)

At the morning, after seeing $PACB gapped down to the level where my entry point was, I took the opportunity to close out my position at breakeven- effectively giving up all paper gain.

Next up was $CGEN.  Price action took out yesterday low which was an inverted hammer and that was not a good sign.  Unfortunately, there wasn’t much bids below and any selling would create a waterfall price drop.  To minimize my own exposure I also sold 30% of my position when the bids were at some price points.  I gave back paper gain and took a small loss.  It was a good thing that I was away from my desk during the hour $CGEN tanked all the way to low $5.2x which spared me any negative reaction.  Fortunately, price action corrected all the way back above $5.5x by the time I came back to the desk.  Since liquidity is so thin on this stock, I have to give it more room to flex.  Still holding 70% of original position.

$RPTP was having problem taking out the high of yesterday after I added.  Seeing both $PACB and $CGEN took a dump in the morning, I felt booking profit would help my mental state since I had to give back paper gain for the last three biotech stocks.  It is important to keep a mental balance during the trading period.

I saw the $AAPL spike in the intraday chart and decided that it “could” be the bottom that I was looking for.  I took a starter position and was not stopped out yet.

I also saw the stability of $DCTH and decided to venture back in with only half-size position.  I was in the money by end-of-day but after hour was a different story since $DCTH was selling $50m worth of shares.  Ouch again!  However, this may or may not have a long term negative impact.  $CLDX also had a negative reaction to the dilution on the first day of the announcement but it was able to brush off the news and headed 71% higher afterward.  So, let’s see if $DCTH can do the same thing giving that it’s waiting for FDA approval on its technology.  I will monitor it tomorrow before deciding what to do.

After seeing the chart on $DNN, I’m confident that uranium correction from January rally is about over.  Therefore, I made up my mind to buy back the three uranium positions I sold earlier to lock in profit.  Thus, I bought $CCJ for a good price thanks to the correction today as well as $URA.

Last, $USU tanked big in the latter part of the day and I just had enough of it.  Turned out that the Senator might not be allocating the required sum to $USU due to limitation of resource.  Along with the fear of reverse split, coming note payment, and more dilution, you have a perfect storm for a demise of $USU despite the Gov’t good intention.  Seeing that I could still get 60% of my original investment back if I sold today, I decided to take the opportunity to do so.  Tomorrow may be a bounce day or it may as well be another 10+% drop day; however, I like the odd of knowing that I can get my 60% now.  Again, this is the case of dealing with the hand you have now instead of speculating of what may happen tomorrow when you have a major decision to make.  Since my overall portfolio from this morning had already accounted for the previous drawdown of my $USU position, today % change of $USU was the only incremental negative change to my overall portfolio.

By the end of the day; my current portfolio stands as:

LRAD, AMRN, SZYM, AAPL, DNN, CCJ, CGEN, URA, DCTH and 36% cash.

My 2 cents.

 

 

 

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