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

11-14-2014 Trading Journal

Since this week had been a slow week in term of bullish momentum, it is better to show the weekly chart just so you can see the up movement.


There you go.  An up bar.  From the daily chart, you can hardly see the move…

Today, I decided to take profit from $URA bounced-back rally so I could allocate fund to $NUGT and $AMRN.

Don’t get me wrong, I’m still bullish with $URA except that I felt the potential for a stronger bounce can come from $AMRN and $NUGT which are in the process of forming a bottom.  $URA, meanwhile, had already made an initial bullish drive in the last six trading days.


Can $URA go higher?  Sure, but yesterday big down day tell me it may be a rocky ride from here.  Today bounce simply gave me an opportunity to lock in gain first.

Before I bought $NUGT near the end of the trading day, I had been daytrading $DUST.  Every dips I bought could not bounce well.  Even by the last hour before closing bell, the time when $NUGT would usually give back decent size gain, $DUST could not sustain a bounce.  I was racking up tiny losses buying $DUST.  By then, I realized $NUGT was holding its ground solidly.  I checked $URA price and it was printing $13.96 and then I checked $NUGT which, by some miraculous design, was also printing $13.96!

“That’s my clue!”

I immediately sold 50% of $URA and bought the same number of shares in $NUGT.  $NUGT went on to reach the high of $14.20 but settled down to close $13.93 which was right around the corner of $URA closing price of $13.96.


The daily chart of $NUGT above showed a very strong bullish engulfment bar with higher than average volume.  The fact that today was a second attempt to rally hard after the first attempt failed 6 trading days ago is a testament of the bull resolve to bounce.


From the weekly chart above, the last two green bars with high volumes told me that the probability of a bottom is high. There were lot of buyers in the last two weeks!

Then I decided to check the weekly script # for $AMRN.  9,880!  Only 120 to hit 10,000 weekly. While I already have a position on $AMRN, I decided it was time bulk it up for a possible bounce.  So I sold the remaining shares of $URA to do so.


The above daily chart showed that $AMRN had been rallying since Tuesday albeit on less than average volume. Nevertheless, I’m motivated to add more due to the weekly chart below:


$AMRN has a decent green bar with volume that is comparable to the last six weeks.  It is enough for me to bet on a possible bounce from here.

$LRAD was practically neutral for the week albeit a slightly down week.


There is nothing to drive $LRAD until the earning announcement and future guidance come out late next week.  I’m locked and loaded on this one.

$DMRC did not have a good week since the weekly red bar below is not an appealing bar at all.


However, the positive side is that price is still above the 5, 15, 79 & 89 MA lines.  So, I’ll call this a “resting” week for $DMRC.

$ORBC has a solid up week with very high volume.


From the weekly chart above, I’ve to say that $ORBC is gearing up for a major rally.  Did you see how the price had been bouncing off the 79 & 89 MA lines for the last eight week?  These 79 & 89 MA lines are powerful support lines and have been proven to be a dependable launching pad for strong rally.

Due to $DMRC down day, my port gave back 0.4% for the day (thanks to gain from $URA to cushion the draw down),   YTD gain is now at 11.85%.

Current holdings:

LRAD, DMRC, ORBC, AMRN, NUGT (100% invested/speculated)

My 2 cents.

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