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 (10-13-2013)

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:



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

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