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

11-27-2013 Trading Journal

The market was like a kid jumping on a Pogo stick today.  It bounced up, hit the ground, and then bounced once more before the market closed.

$INO opened higher and I naturally added.  But the bounced went out of air and began to meandering around.


Needless to day, I sold 50% of the position to reduce risk.  If there is no strength behind the bounce, it makes no sense to take on increased risk especially when playing for the momentum in bio-tech.

$CCJ and $URA was falling after opening so I sold $URA to take small losses even though by end of day, $URA came back positive with a green bar.


At the 5m chart shows, price tanked right at the open.  Since $URA was only a small starter position, I was only interested if price could keep going up after I bought; otherwise, I would have to keep an eye on it.  Thus I sold for small losses to take it off my watch list.

$RBCN, The Fly’s pick, had a nice long tail green bar yesterday despite being a down day.  This tell me that buyers were able to fight its way back to the top of the daily range.  When today price action took out yesterday high, it was a buy signal.  It so happened that when yesterday high was taken out, it also took out the upper opening range; thus, I bought a decent size position.


Price is now testing the resistances created by congruence of the 89 XMA, 5 & 15 MA lines.  Price needs to take out this resistance to move forward.

Seeing that $NUGT stopped going lower on the 3rd day from the last historical low, I decided to play “catch-the-bottom” on $NUGT.  This is how I decide when to play this game.  $NUGT had been going down with a lower low for the last eight day.  Allthough there were days without a lower low; the following day continued with a lower low.  But today, price did not gapped down after yesterday pause (of a lower low); instead it opened higher.  Giving the possibility that we might have a 3rd day without a lower low, I took the chance to buy with a hard stop below the historical low which was two days ago.


There is no guarantee that I’m catching the bottom here, it is just that today buy-in offer a low risk trade.  That is all.

I bought a starter position on $TSLA today solely based on the technical bounce off the 50% retracement from the historical high and low of this stock.


The weekly chart above shows price bounces off the 50% dashed-line.


The above daily chart shows how yesterday daily bar bounced off the 50% retracement line.  Since today price did not continue to head lower but instead opened higher, this confirmed the 50% retracement bounce had leg so I bought in for the ride.

$KNDI rallied nicely in mid-day so I added more.


Take a look at the nice rally on the 5m chart above.

$KGJI finally had a correction day.


Price found support at the daily 5 MA line.

$XONE continued to bounce.


This gives me comfort that I may not need to take too much heat going forward.  Notice that price closed above the daily 5 MA line.

$CERS was able to maintain its price level today without giving back the gain from yesterday.

Despite $KGJI down day and the neutrality of $LRAD, my portfolio gained today thanks to $KNDI, $XONE.and the smaller gains from the rest of the team.

Current holdings:


My 2 cents.

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