Market was down all day but struggled to climb back up from below to reduce the fall.
Meanwhile, I got a little “too” busy today and all for naught (only in hindsight speaking, of course).
First, I moved my stop quickly to intra-day low on $NUGT after the open and got stopped out quickly to protect profit. Price bounced around before tanking further down than my stop out point. When price looked like stabilizing, I re-entered a starter position with a stop below the new intra-day low. Price did bounce well but collapsed again to stopped me out. Later again, when price bounced back up from the 5 SMA, I bought back starter position one more time. By closing bell, I wasn’t stopped out.
$INO again was trading below yesterday close and I decided to bail again simple because price action was trading below the 5 SMA line.
$KGJI was trading below yesterday close again and I thought price would collapse soon. I sold 50% of my position to reduce risk and when I saw a large bid was still there, I decided to sell the other half. And when I saw price did not collapse like I feared. I then look for an opportunity to buy shares back. Before the closing bell, I was able to buy back 75% of the shares albeit at a bit higher price.
Although I said I wanted to hold $NCTY for longer term bounce, the morning price collapse cut thru the 5 SMA and touched on 15 SMA and it triggered my protection mode. I decided to bail when there was bids large enough for me to sell. Price eventually bounced back some. I may buy back if shares continues to bounce tomorrow.
$CCJ was correcting like everyone else and I sold half when price took out the lower opening range. Later, when price did not bounce, I sold the rest for small losses to raise cash.
$AMRN was doing well after open when it climbed back up to $2.30; however, later in the day, price collapsed quickly and I moved quickly to get out to protect profit from my entry below $2. Later when price did not go further down, I began to buy the shares back for a bit higher than my sales price.
$CERS continued to head south and both 5 and 15 SMA converged and pointed down. I decided to sell all my shares looking to buy back cheaper. And when price was holding, I bought back 50% of my shares before closing bell.
Due to the general down market today, I decided to buy the ETF $SPXS to short the market. I still have the position with a small losses at closing time.
Due to falling price of $KNDI, $AMRN, $LRAD, KGJI, $CERS my port was down 2%.
LRAD, KNDI, AMRN, GALE, CERS, SPXS, TINY, KGJI, APRI, CLIR, NUGT and 21% cash.If you enjoy the content at iBankCoin, please follow us on Twitter