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 (04-11-2013)

Today was a slap on the face and a big made-up kiss.

Market opened lukewarm positive but $AAPL was being difficult with a negative open.  I moved my stop to breakeven and it was hit.  I left it alone afterward due to no follow-up with yesterday up day.  I expected to see an up day with strong continuation; otherwise, adios!  It seems to me that $AAPL is now a day-trading stock and not like the trending stock you are used to see in 2012.

$BCRX, again, was on a defensive, so I unloaded some more of my position to cut losses and minimized exposure.  I’m now holding on 25% of the original position so I could give it more room to gyrate around before I cut it out for good for nonperformance.

$CHK opened negative and began a waterfall and I was going, “What the heck?”.  Needless to day, I immediately dumped it and was lucky to get out at breakeven.

$CERS opened neutral and after an hour or so, price began to climb.  As it climbed, I added some more.  It peaked at $5.18 and profit-taking brought it back down to $4.88 area but still up for the day.  I did not take profit because I wanted to see how tomorrow price action behaves first.  Sometimes, too much excitement might push the price action too high too fast in the same day; and then price would continue the next day.

I saw $DNDN during my bio-tech round-up review and chart looked like it might be bottoming.  I bought starter position first and added more later in the day when price action was encouraging on the upside.

$DDD intra-day chart looked horrible and I wished I looked at it earlier; nevertheless once I saw how bad it looked, I dumped my position to lock in profit even though today was still an up day.  But the development of a shooting star candlestick bar did not sit well with me and I didn’t want to wait for confirmation of a bearish stance by taking out today low tomorrow.  I always reminded myself that this was a swing trade and should be treated like a swing trade- take your profit and run when price action began to wobble around.  Don’t worry about the earlier paper gain you’ve given back, just take whatever is left on the table and run.  If you are worry about missing the run back up; then it is your ego and greed talking to you.

$DCTH was acting defensive and weak all day and I just had it.  I dumped this nonperformance stock for small losses (from recent re-entry) and walked away.  $DCTH was a swing trade idea and I held no conviction on this one.  Btw, having conviction on a stock pending FDA approval is like having conviction that the metal ball will land on red on the roulette table.  This is cheap conviction and is not worthy for anyone to fret over.

$FB, $AIG, $SZYM, $AMRN were all doing great today while $PACB, and my remaining shares of $BCRX were still in small red.  I’ll give these two another day before I decide the proper action to take.

Current holdings:


My 2 cents.


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

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