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.
AMRN, LRAD, TINY, APRI, UNXL, CERS, DNN and 40% cash.
The trades I made in the journal were time-stamped in twitterIf you enjoy the content at iBankCoin, please follow us on Twitter