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

12-05-2013 Trading Journal

Again, the market was struggling to stay afloat waiting for tomorrow economic reports.

There was really nothing for me to do except to move my hard stop on $PXD to breakeven point to protect myself.  Fortunately, $PXD was able to trade in a tight range above my breakeven stop.


Price was still trading near the 89 and 15 MA lines.  The 5 MA line is pointing up and I like to see it cross-over the 15 line soon.

$CERS disappointed today by continuing to trade lower.


It is now heading toward the 79 & 89 MA support lines.  Let’s see if price will bounce from here.  The funny thing about having a conviction with a stock is that you literally give up taking short-term profit when you see them.  When price failed to maintain above the downtrend line, it was the perfect time to take profit.  Nevertheless, taking profit may also mean giving up your position for an indeterminable length of time.  Indeterminable because I could be side-tracked by my focus on other stocks, cash tied up by three-day settlements rule that can prevent me from jumping back in at an opportunistic time, lost interest due to being out of a position, etc.  All these factors can keep me out of the stock even when price shoots back up.  My recent lost opportunity on $SSYS trade was a perfect example.  After getting out to protect profit, I was not able to jump back in for the bounce due to cash not available at the time.  Since there are no bad news for recent correction on $CERS, I do not feel the need to get out for the sake of getting out.  I’m going to sit this one out for 2014.

$XONE is another one I’ll hold thru volatility as well.


Today drop wasn’t so bad considered that price bounced off the 89 XMA and is now sitting on the 5 MA line.

The rest of my positions were also going thru minor corrections so there is no need for me to go over each position today.  Let’s just say that I’m satisfied with the basket of high-beta stocks in my portfolio.  All I need is a few of them to blast off and I’ll be doing quite well.  Now, if all of them blast off, I will have to thank the stock gawd for the miracle.

Obviously, due to the big dump on $CERS and the across the board corrections, my portfolio took a hit today.

Current holdings:


My 2 cents.

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