Today was a fighting day.
Market opened down and then yoyo through out the day before finally collapsed into a mini-correction.
First thing first, $AAPL opened down and I was stopped out of my long position due to my hard stop from yesterday. Not to be discouraged, I watched for a bounce and when price action began to rally, I immediately bought back shares and rode the rally back up. I used a trailing stop and was stopped for gain. Since I didn’t buy at the bottom for the bounce, I was still short of recovering from the morning losses. So I waited to see if $AAPL would continue to rally from the mini-retracement that took my trailing stop out. Price action bounced off the retracement low and I bought $AAPL back for the continuing rally. By end of day, I took profit again to bring my day to breakeven on my $AAPL trade for the day. Giving that I lost quite a bit on the gapped down, I considered today a wining day for me since I was able to recoup my losses.
$APRI had a big rally yesterday due to the fact that $APRI had a 8K report announcing that they took off the “poison pill” in their company setup. Speculation on takeover drove the price up in the morning. Not to miss a good speculation jump, I bought a bunch in the morning and watched my position turned green quickly. And when it started to turn south, I placed a stop and was promptly stopped out to lock in profit. If I had sold at the market instead of wasting my time to place a stop loss, I probably would make more money. But then this is hindsight talking. Due to the speed of a fall, I was able to keep only 20% of my gain.
$MNKD opened up but was taken down by profit-taking. Not to miss the boat, I unloaded my shares as well using a trailing stop to protect profit. Later when price stabilized, I bought back a starter position only.
Since I had a hard stop on $NVAX below the trendline, my stop was hit and I was out in the morning.
I saw $CCJ continue to march higher; instead of chasing it, I decided to buy $DNN which was still working on the bouncing momentum. I added more later when price began to move up.
Seeing that I missed $DUST yesterday, today retracement gave me an opportunity to buy back some. The setup looked perfect with a close stop for a small risk trade. By end of day, I am still in the money. My stop is still in place because I’ve used a GTC order.
I bought $BID after reading The Fly’s thesis on it. Seeing that it had retraced quite a bit during the day, I bought a position for the bounce. Unfortunately, price continued to fall further down and I finally put a stop below the intra-day low after a bounce. No luck. My stop was taken out and price fell further down. Moving on.
$CERS continued to rally more and I remained long by sitting on my hand to prevent it from pushing the button to take profit.
AMRN, LRAD, TINY, CERS, GLUU, DNN DUST MNKD and 31% cash.
The trades I made in the journal were time-stamped in twitterIf you enjoy the content at iBankCoin, please follow us on Twitter