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 (05-24-2013)

Today I was missing in action.

Market gapped down at open and then proceeded to climb steadily upward all day in a grotesque stair step fashion.

I tried again selling $AMRN in the morning, this time only half-position size, hoping to buy back cheap.  Not much luck again; but I was able to buy back a bit cheaper than what I sold.  Not much of a good deal but still beat buying back at higher price.

Seeing that the market was down, I decided to unload $TC, $MCP, $SLW (at breakeven when combining the three together) to raise cash.

I also reduced position size on $CERS and $UNXL to minimize risk.

I added to $NUGT near the open when price action was strong; but later on, price action fell apart and I was stopped out for a small losses.

I’m going to give $APRI a little more room to see how the 2nd public offering is being received next week.

Thanks to Dev’s pick on $UNXL, I’m seeing nice green despite the reduced size from peeling off some in the morning.

I was basically neutral most of the day which explained my lack of action except for the liquidation and reduction of some positions.

Current holdings:



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

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