Today was a big hug and a slap on the face.
Market was down in the morning but I seemed to pay less attention to what $SPY was doing these days.
My focus was on $GLUU and $BCRX.
$GLUU opened a little bit higher and I felt the urge to buy back my shares. I noticed that even though yesterday was a down day, it still has a higher low compared to the day before. With this kind of thinking, I decided to buy back $GLUU with a stop below yesterday low which was a low risk trade for me. By end of day, I was not stopped out.
$BCRX was acting strong and I added twice during the day. Somehow, the momentum went out of gas but price still closed above $2.00. I’ll decide what to do with this one tomorrow.
After browsing around the watchlist, I decided to buy starter position on $DNDN and $DNN. $DNDN because the chart looked bouncy and $DNN because $CCJ was up at the time and the Russian supply of military grade uranium for conversion to commercial use would cease to be available sometimes in the 2nd half of the year. I later added a bit more to $DNN.
$AMRN was going strong all morning and when it took out the high made in April 23rd, I added a bit more to my swing trade position.
$AAPL was doing great so I left it alone.
$SZYM was on a defensive all day and I wasn’t thrilled about the price action at all. I sold out my position two days ago to lock in some nice gain but then I felt the urge to buy them back. Now I have to deal with this correction all over again. Why did I have to buy them back? Why? Why? Ok, enough of my whining. Sometimes, I’ve to let my ego complains a bit so that it can settle back into the background. (grin)
$MELA. Mela, Mela… what’ve I done to you that you’ve to slap me on the face? Before closing, price dropped quite a bit when I wasn’t looking. However, after I was made aware of it, I dumped 50% of my position to cut my losses. With the earnings numbers out, after hours price tanked quite a bit. Somehow, I thought their business model was starting to kick in gear. Depend on price action tomorrow morning, I may just buy back some share for intermediate term hold. Let’s see how it goes tomorrow morning.
AMRN, LRAD, SZYM, TINY, AAPL, BCRX, GLUU, DNN, MELA, CERS, DNDN and 21% cash.
The trades I made in the journal were time-stamped in twitterIf you enjoy the content at iBankCoin, please follow us on Twitter