Today was a lack of conviction day.
Market open negative but that was just the outer appearance only.
However $AAPL looked strong pre-market so I was ready to “get-the-hell” out of my put option at market open. Lo and behold, $AAPL opening price actually dropped at open so I was able to get out with only a scratch. Whew!
$MNKD looked strong pre-market even after a strong Friday up day. After reviewing the chart, I can see more potential on the upside; therefore I decided to “chase” this one. I bought starter position not too long after open.
$CERS opened strong and I wanted to buy in. But the price was high at open so I waited. I didn’t have to wait long since price dropped back down to the low $4.9x rather quickly. I took the opportunity to buy a starter position and then continued to add as price climbed. I am in the money by end-of-day. Let’s see if I’m corrected to buy this one when tomorrow comes.
Since $AAPL opened strong, I bought a starter position. But being mindful of the negative DOW, I placed a stop order below intra-day low and it was taken out soon afterward.
I also placed a stop order on $IMMR below Friday low and got stopped out as well for small losses. Unlike The Fly who believes in $IMMR to the core, I did not have the conviction to hold. By end of the day, The Fly wins again on $IMMR. His conviction is strong and unparalleled.
Regarding $SZYM, please read my previous post since I covered my trading log there. The quick summary is simply that I didn’t have the required conviction to hold this one thru volatility.
I stumbled on $CUR during chart browsing and I liked the cup & handle chart formation. Price action looked like it wanted to go break out soon so I bought a starter position and later added more.
$KERX also looked promising and I had been watching this one for awhile. I finally bite the bullet and bought a starter position. By end of day, I am in the money. Thank you!
Except for $AMRN who continued to rally nicely today, I did not have a banner day like The Fly or others. My portfolio gain today was modest. However, my portfolio is a sum total of my decisions and I feel that, in due time, I will have my days. Both $AMRN and $LRAD will be the highlight of my portfolio by year-end.
While the rabbits are running fast and fury ahead of me, I’m a tortoise who just keep on moving despite some minor setback.
Current holdings:
AMRN, LRAD, TINY, CERS, CUR, KERX, MNKD and 37% gain.
The trades I made in the journal were time-stamped in twitter
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