Today was a sleepy day.
Market opened with a positive bias but that was the last thing I was concerned.
$DUST opened down and I waited a bit to see if there were any bounce. After the first 5m bar was over, the 2nd bar did not do any better; so I sold to cut loss pronto. And it was a good thing I did, $DUST continued to head south afterward. Again, this is further proof that it pays to cut your loss quickly. While I had to swallow the loss of $5 per share on my trade, it was much better than to sit on $15 dollars per share loss by the end of the day.
$NFLX had an orgasmic moment after a couple of 5m bar movements and I was not going to argue against such a strong burst. I immediately took profit on my put option when there were still some to take.
$BAC was moving up so I added more. Later, when $BAC began to show weakness after the burst, I moved my stop to breakeven and it was hit. The reason why I moved my stop to breakeven so quickly was because I felt that $BAC movement somehow was limited in its range of movement given the money I had to tie up with it. So, I was not disappointed when I was stopped out at breakeven to free up my cash.
$BIDU was moving up and I added more. Although $BIDU did correct a bit in the morning after a burst, it did not correct the way $BAC did; therefore, I was more comfortable holding $BIDU since its potential range of movement was much larger, imo.
Seeing $BIDU was doing well, it reminded me of the Russian version $YNDX. I took a look at the chart and realized I missed the $7 run from the last two weeks. Seeing that they had good earnings result, I decided this was the catalyst we needed to see for future upward movement. I bought a starter position and later added a bit more.
$SZYM was not fairing well, so I sold 1/3 of my position to reduce position. Later, I sold the rest just to get some peace of mind from the earnings result that would come after the close.
While browsing thru some chart, I came across $CTSH that I used to trade many years ago. This stock acted like it was ready to bounce back up from good earnings report. I bought a starter position to see if it would work.
There wasn’t much action on my end for the day and I took a nap during market hours; hence a sleepy day.
Current holdings:
AMRN, LRAD, BIDU, TINY, YNDX, CTSH and 33% cash
The trades I made in the journal were time-stamped in twitter
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