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

08-20-2014 Trading Journal

Market, like a newly minted wonderboy, simply walked past the resistance as if it was nothing to be bothered with.


$SPY closed at new high. Let’s see if this wonderboy can continue to walk up the hill.

Well, today is the day my port take a pause and go thru the “correction” phase after hectic days of moving up in a fast-paced speed.

$STV started the correction with a less than stellar performance.  My expectation was dashed when the revenues were less than same quarter.last year.  I was expecting some add’l revenues from the new “cloud” members but that hasn’t even begun yet.  Oh well, while not hitting the ball with $STV, I was spared by the fact that price did not gapped down 50 cents or more at the open.  It gapped down moderately and I took the opportunity to get out when the momentum after the open was to bounce some.  Thus, I was selling into the bouncing price instead of a falling price.  Whew!  I cut my losses nicely by executing my exit plan without hesitation.

With the proceed from the sales of $STV, I added some more $AMRN, $HYGS, and $ORBC to round up my investment size.

$LRAD finally took a tumble after eight day of going straight up (ok, with one day in the red three trading days back).


While it has a bearish engulfment candlestick pattern, it still needs to be confirmed by taking out the low of today bar.  I’ll be looking to buy some $LRAD for trading with my other account.

$HYGS continued to correct.


Price is now settling at the support line.  Let’s see if it can bounce from here.  I added some more around this support area.

$AMRN also dropped a bit.


But chart still looks bullish.

$DMRC and $ORBC are still struggling at the bottom of the trend.  I still have strong conviction on both to continue to hold.

Due to all five stocks being down plus the losses I’d to take for $STV, my port gave back 4.8% today.  YTD gain is now at 12.5%.

Current holdings: (and then there are five…)

LRAD, HYGS, DMRC, AMRN, ORBC and 5% cash.

My 2 cents.

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