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 (05-22-2013)

Today was a bloody day.

Market opened like a jack rabbit and took off without looking back; then it went into a yoyo phase before turning into a waterfall.  And it had to happen at the day when I was busy with non-trading stuff!

Everything that could go wrong went wrong today.

$NUGT gapped up and I went for it.  It looked good at the beginning but then the rally fizzled.  I put a hard stop below yesterday low to give this more room to breath.  Let’s see if the rally will continue or not.

Other than that, I came back to my desk with everything falling apart.  Lo and behold, I had no choice but to put hard stops to protect myself.  $CERS, $DNN, $GLUU were all stopped out for losses.   These losses were a bit larger than my normal small losses due to the larger position size.

I also bought $UNXL early in the day to go with the Dev’s thesis.  Due to its small float, I’m giving this one a bit more room to work with.

Now, what really threw me by end of the day was the announcement of dilution of $APRI.  So much for the takeover rumor.  I’ll have to eat that losses tomorrow.

Current holdings:

AMRN, LRAD, TINY, APRI, UNXL, NUGT and 40% cash.


The trades I made in $NUGT were time-stamped in twitter



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