Today was a slaughterhouse day.

Market opened higher and everything was going honky donky, right?

Nope.  Not for me.  I was being cut three ways to sunset.

The first cut was $AMRN.  So $AZN decided to buy $OMTH instead of ponying up a premium for $AMRN.  Well, I think you get what you pay for still apply here.  $OMTH is still a developmental stage company so $AZN has more work to do.  Regardless of what I think or anyone think about the superiority of Vascepa, market did not like the news and punish $AMRN instead.  Who am I to argue?  Therefore, I sold my swing trade position at the $7.5x level which was slightly above my swing trade entry of $7.4x.

The positive spin to this BO from $AZN is that Big Pharmaceutical company is still interested in the fish oil business despite the sloppy Italian study that tried to prove that a low dose fish oil supplemental pill offered no benefit.   I still hold my core $AMRN position and will continue to hold.  Remember I tried to sell my $AMRN position last week looking to buy back cheap but the sellers did not come?   Hindsight speaking, if only I tried that today at the open…  Today action goes to prove that we can try to time the trade but the market does not always cooperate.

My second cut was $APRI.  At first, it started off with a positive bang but then it fell apart later.  While I did not look into the reason why, I could speculate that the public offering for $2.85 was not doing well.  I sold my entire $APRI position to cut losses and moved on.

My third cut was $UNXL.  Again, it started off with a bang on the upside.  Wow!  But being a small float company, sellers came in to drop this one into an abyss.  My stop below the low two trading days ago was triggered and I was stopped out for losses.

$UNXL is a perfect example of the need to beat your own drum.  The Dev’l may still like this one; but don’t forget that the Dev’l has come from a hugely profitable short position on $UNXL before he switches to go long.

On the other hands, I followed the play because the chart looked good for a bounce at the time.  With today price action, my stop was triggered based on my own drum beating regardless of the status of Dev’l’s position.

I bought $NUGT for a bounce play but got stopped out later for small losses.

I bought $EBAY near the open and is still in position since my position is still profitable albeit I gave back paper gain from earlier climb.

I also bought $BPFH from ChessNWine blog post and it was profitable on the get go.  Unfortunately, price staged a waterfall action that stopped me out for a small losses.

I added to $CERS with a limited buy order which got filled in the afternoon (I forgot to post on twitter).  I like $CERS price action and may be moving this trade into the position trade category.  I’m looking for price target to hit at least $8 from here.

Meanwhile, $TINY has a bounce today so let’s see how it behaves the rest of the week.

Current holdings:

LRAD, TINY, AMRN, CERS, EBAY, DNN & 53% cash

@tradingmy2cents

The trades I made in the journal were time-stamped in twitter

(except for the $CERS position I added today which I forgot to post on twitter).

Comments »

Today I was missing in action.

Market gapped down at open and then proceeded to climb steadily upward all day in a grotesque stair step fashion.

I tried again selling $AMRN in the morning, this time only half-position size, hoping to buy back cheap.  Not much luck again; but I was able to buy back a bit cheaper than what I sold.  Not much of a good deal but still beat buying back at higher price.

Seeing that the market was down, I decided to unload $TC, $MCP, $SLW (at breakeven when combining the three together) to raise cash.

I also reduced position size on $CERS and $UNXL to minimize risk.

I added to $NUGT near the open when price action was strong; but later on, price action fell apart and I was stopped out for a small losses.

I’m going to give $APRI a little more room to see how the 2nd public offering is being received next week.

Thanks to Dev’s pick on $UNXL, I’m seeing nice green despite the reduced size from peeling off some in the morning.

I was basically neutral most of the day which explained my lack of action except for the liquidation and reduction of some positions.

Current holdings:

AMRN, LRAD, TINY, APRI, UNXL, CERS, DNN and 40% cash.

@tradingmy2cents

The trades I made in the journal were time-stamped in twitter

Comments »

Today was a stubborn day.

Market opened down and the first thing I looked at was $APRI.  Seeing that the the public offering price =$2.85; I see some possibility here.  The bids were there at the open so I unloaded the whole lot with the expectation to buy it back cheap.  Fortunately for me, price did go down and stabilized around low $2.6x where I bought back my position.

$UNXL took out yesterday low from two days ago, so out it went.  When price stabilized around mid $22.xx, I bought back my position.

$CERS looked tempting since price action recovered pretty quickly; so I bought back 60% of my original position from yesterday for about the same price.  Hindsight said I should wait; but hindsight was not there when I was buying.  I will see how it looks tomorrow.

$AMRN had a large bids so I decided to sell my whole lot just to exercise my resolve to survive.  There were only a minor hesitation; but I was glad to have done it.  Price did not go down further after I sold so I bought back my position after seeing some buyers coming back in.  I had been sitting on this position for so long that it was a good exercise to dislodge my immobility regarding this position.  Next time when there is a profit to be had, I may just take it with my swing trade position.

I was stopped out of $NUGT for profit on position coming in from yesterday.  Later in the day when I didn’t see any major retracement on this one, I bought a starter positon along with other miners- $SLW, $TC, and $MCP.  Since $MCP is a pick from the Dv, how can I go wrong here?  Nevertheless, I’ll have my own protective stops in place for these position.  I like these miners because their price actions were quite resilient today.

I also bought back some position on $DNN I sold yesterday.

Current holdings:

AMRN, LRAD, TINY, CERS, APRI, UNXL, TC, DNN, SLW, NUGT, MCP and 28% cash.

@tradingmy2cents

The trades I made in the journal were time-stamped in twitter

 

 

 

Comments »

Today was a bloody day.

Market opened like a jack rabbit and took off without looking back; then it went into a yoyo phase before turning into a waterfall.  And it had to happen at the day when I was busy with non-trading stuff!

Everything that could go wrong went wrong today.

$NUGT gapped up and I went for it.  It looked good at the beginning but then the rally fizzled.  I put a hard stop below yesterday low to give this more room to breath.  Let’s see if the rally will continue or not.

Other than that, I came back to my desk with everything falling apart.  Lo and behold, I had no choice but to put hard stops to protect myself.  $CERS, $DNN, $GLUU were all stopped out for losses.   These losses were a bit larger than my normal small losses due to the larger position size.

I also bought $UNXL early in the day to go with the Dev’s thesis.  Due to its small float, I’m giving this one a bit more room to work with.

Now, what really threw me by end of the day was the announcement of dilution of $APRI.  So much for the takeover rumor.  I’ll have to eat that losses tomorrow.

Current holdings:

AMRN, LRAD, TINY, APRI, UNXL, NUGT and 40% cash.

@tradingmy2cents

The trades I made in $NUGT were time-stamped in twitter

 

 

Comments »

Today was a quiet day.

Market opened up, did a hiccup, then went higher.

As for me, my luck did not continue when $NUGT gapped down at the open.  I practically gave back my gain I made yesterday.  Today was the day when the bullish engulfment bar from yesterday did not follow through; but guess what, I’ll do it again next time simply because statistically speaking, it has a good chance to continue.  So, today non-follow-thru is just another statistical event that I’ve to accept.  Later,  I bought back for bounce play but got stopped out at breakeven; afterward, I left it alone.  Best to let this one settle for now.

Meanwhile, after seeing that $CERS did not do a gapped down or waterfall prices that I fear yesterday, I bought back my shares in the morning.

Since $APRI price action took out the high of Feb once again, I added more.  With the prospect of a takeover, there may still be room for speculation to drive price action up; however, this is still a high risk play.

I also added to $DNN to take advantage of the mini-correction today.  No, it wasn’t a average down ’cause I am still in the money.

By and large, I’ve pretty much concentrated my money into seven stocks with only 29% cash.

Out of the seven, $CERS, $APRI, $DNN, and $GLUU are swing trades.

I’m going to wish myself good luck from here.

Current holdings:

AMRN, LRAD, TINY, CERS, APRI, DNN, GLUU and 29% cash.

My 2 cents.

@tradingmy2cents

The trades I made in the journal were time-stamped in twitter

Comments »

Today was a golden day.

Market continues to yoyo all day.

At the open, I watched $DUST because I was intrigued by George Soros’ large call option position on GDXJ as alerted by rogue wave in his reply to The Fly’s post.  The only way I would see a potential bottom on $NUGT was that the double-top on $DUST proved to be a strong resistance.  After seeing the $DUST could not hang on to the high even with an pre-market high of $120+; I saw a potential bottom play on $NUGT with small risk giving that the intra-day low was so close to my entry point.

I waited and price began to climb; I then added more later.  After a few hours of not watching $NUGT, I was surprised to see how high price action had gone up.  I immediately put a protective sell-stop to lock in decent profit if price retraced to below recent pivot low.  I was stopped out later.  However, by day end, momentum for $NUGT was very strong.  Seeing such powerful surge, I bought back a starter position (as higher price than I stopped out for) and then continued to add when price continued to climb higher.  By day close, I’m still in the money with my GTC stop still in place below the recent pivot low using 3m chart.

$APRI was higher after open so I added a bit more.  There wasn’t much movement afterward so I left it alone.

Unfortunately, $CERS was showing a bearish engulfment candlestick in late afternoon so I decided to close out my position to lock in profit.  I tried to give this one more time but I couldn’t hold a bearish engulfment candle overnight when I had profit to take.

$TINY had a nice up bar today probably due to continued price increase on $SZYM.

Meanwhile, my portfolio continues to take heat from $AMRN and $LRAD.

Edit: forgot to mention that by day end, $CERS recovered some so I bought back a small starter position.

That was pretty much the action for my day.

Current holdings:

AMRN, LRAD, TINY, NUGT, GLUU, DNN, APRI, CERS and 35% cash.

@tradingmy2cents

The trades I made in the journal were time-stamped in twitter

Comments »

Today was a fine day I must say…

Market opened higher, rest a little, then took off to the sunset…

$DUST gapped up and the trade was instantly profitable.  The only thing left to do was to protect profit while letting the price run.  Sometimes you could hit the sweet spot with your trailing stop and ride the trend all the way to the top; and other times, you could be stopped out for a nice profit and left some money on the table.  Today was the latter for my $DUST trade.  I didn’t buy back for the second wind on the price run which came close to the previous high of $119.63 from April because my mind was no longer focus on the stock after I was stopped out.  Remember, once I’m out of a stock with a gain or loss, any re-entry will have to be considered as a brand new trade with its own risk profile.  $DUST, being a 3x ETF, is a high risk trade and I learn not to dip my hand back in after a win.  If I left money on the table, so be it.

$MNKD opened higher but quickly dropped back to negative territory, I placed a close stop after open to protect profit and was stopped out during the retracement.  Today was one of those day where I was stopped out at the bottom and price took off without me.  I know this type of event will happen from time to time and the only thing I can do is to buy back in at higher price so as not to miss the rally.  I waited for a retracement and bought back some shares later.  Unfortunately, by day end, price action took a tumble later in the day. Since the candlestick chart near the end of the day looked like a shooting star reversal pattern in development.  I decided to jump the gun by putting a close stop to protect myself.  I was stopped out for small losses from this re-entry.

$BBRY started down and my put option looked good.  But price action took a new turn and headed up, I sold the option for tiny losses and bought a starter position to go long with a tight stop.  I was stopped out later for small losses.  After two failed attempts, I decided to leave $BBRY along and moved on.

$APRI looked strong which surprised me; so I decided to go along with the speculation and bought some to chase.  By the end of the day, I am still in the money.  Let’s see what next week will bring.

$CERS finally took out the left-hand cup & handle pattern and I bought more.  Price stabilized around $5.50 all day so I decided to sit on my hand again to avoid my temptation to take profit.  After seeing the news that another fund has bought 600K shares of $CERS, I’m beginning to contemplate about moving $CERS into the position trade category.  I see price target of $8 being achievable from here.

I’m taking small heat from $DNN and $GLUU; but I’m willing to wait until next week to decide what I want to do with these the swing trades.

$TINY is beginning to get some attention today from the news that Google and NASA have bought the new quantum computer from D-Wave which $TINY has a stake in.  D-Wave is not the only reason why I like $TINY, I also like the fact that it has a stake in BridgeLux which manufactures LED light with a low cost design.  On top of that, $TINY also owns quite a few shares of $SZYM.  I’ve decided not to chase $SZYM on my own and just be satisfied that I own $SZYM indirectly thru $TINY.

$AMRN has a small hiccup today due to lack of news on NCE (new chemical entity) status from FDA.  Oh well, I need to be more patience.

Current holdings:

AMRN, LRAD, TINY, CERS, GLUU, DNN, APRI and 32% cash.

@tradingmy2cents

The trades I made in the journal were time-stamped in twitter

Comments »

Today was a fighting day.

Market opened down and then yoyo through out the day before finally collapsed into a mini-correction.

First thing first, $AAPL opened down and I was stopped out of my long position due to my hard stop from yesterday.  Not to be discouraged, I watched for a bounce and when price action began to rally, I immediately bought back shares and rode the rally back up.  I used a trailing stop and was stopped for gain.  Since I didn’t buy at the bottom for the bounce, I was still short of recovering from the morning losses.  So I waited to see if $AAPL would continue to rally from the mini-retracement that took my trailing stop out.  Price action bounced off the retracement low and I bought $AAPL back for the continuing rally.  By end of day, I took profit again to bring my day to breakeven on my $AAPL trade for the day.  Giving that I lost quite a bit on the gapped down, I considered today a wining day for me since I was able to recoup my losses.

$APRI had a big rally yesterday due to the fact that $APRI had a 8K report announcing that they took off the “poison pill” in their company setup.  Speculation on takeover drove the price up in the morning.  Not to miss a good speculation jump, I bought a bunch in the morning and watched my position turned green quickly.  And when it started to turn south, I placed a stop and was promptly stopped out to lock in profit.  If I had sold at the market instead of wasting my time to place a stop loss, I probably would make more money.  But then this is hindsight talking.  Due to the speed of a fall, I was able to keep only 20% of my gain.

$MNKD opened up but was taken down by profit-taking.  Not to miss the boat, I unloaded my shares as well using a trailing stop to protect profit.  Later when price stabilized, I bought back a starter position only.

Since I had a hard stop on $NVAX below the trendline, my stop was hit and I was out in the morning.

I saw $CCJ continue to march higher; instead of chasing it, I decided to buy $DNN which was still working on the bouncing momentum.  I added more later when price began to move up.

Seeing that I missed $DUST yesterday, today retracement gave me an opportunity to buy back some.  The setup looked perfect with a close stop for a small risk trade.  By end of day, I am still in the money.  My stop is still in place because I’ve used a GTC order.

I bought $BID after reading The Fly’s thesis on it.  Seeing that it had retraced quite a bit during the day, I bought a position for the bounce.  Unfortunately, price continued to fall further down and I finally put a stop below the intra-day low after a bounce.  No luck.  My stop was taken out and price fell further down.  Moving on.

$CERS continued to rally more and I remained long by sitting on my hand to prevent it from pushing the button to take profit.

Current holdings:

AMRN, LRAD, TINY, CERS, GLUU, DNN DUST MNKD and 31% cash.

@tradingmy2cents

The trades I made in the journal were time-stamped in twitter

Comments »

Today was a day to roll-the-dice.

Market opened down and then forged ahead with a hiccup during the day.

Meanwhile, I was, again, shaken out 80% of my $GLUU position when it turned south on the get go.  Out of pure habit, I just dumped my $GLUU in block as price tanked.  Later on, when I wasn’t looking, price action took off to the upside.  Not to be cheated out of my position, I bought back 80% of my original position at a higher price.  I like $GLUU as a potential long-term position; but I’ve yet to make up my mind.  The future is all about tablets and mobile phones; I don’t see it any other way.  $GLUU is all about gaming in mobile devices.  The other side of the coin is that competition is fierce; nevertheless, $GLUU has a brand and experience.

I’ve a hard stop on my $KERX position and it was taken out.  Glad to rid of it ’cause I don’t like to see my swing trade position to be in red for too many days.

$MNKD finally made my “chase” two days ago worth the effort.  It took off big and I added more after it took out the $5 resistance.  When the normal retracement after the initial burst was done, I added some more in the low $5.xx area.  $MNKD is a high risk trade at this point for it is still waiting for FDA approval for its insulin inhaler.  This could be a big winner if they can get FDA approval; who want to use needle for insulin if they can inhale instead?

$FB is reminding me of $SZYM.  Price just would not take traction on the upside.  When price took out the low of two days ago, I put a stop below the intra-day low to cut losses if the bounce failed.  The bounce failed and I was stopped out.  Moving on.

$NVAX was also another one that went the wrong way.  Instead of putting a stop near intra-day low which would guarantee a filled, I decided to give this one a bit more time by placing a GTC stop below the trendline.  If it bounces tomorrow, I will be fine.

I was watching $AAPL waterfall and kept telling myself it was too late to short.  However, when price took out the 50% fib retracement, I decided to short since my risk would be above $425.00, a tight stop literally.  Well, to my surprise, price took out the $425 level and I was stopped out.  When price continued upward, I took that the $425 Fib 50% line support was still in effect.  So I bought some with a stop below $425.00.  By market close, seeing that price did not do a waterfall, I added more hoping for a big bounce tomorrow.

Well, $AMRN had a hiccup today and my portfolio suffered a minor bump as a result.  Oh well…  I can’t help but notice that my portfolio contains quite a bit of high beta positions.  Eventually, I will either get to see my stock god with my head on the block or sit on the white cloud with a big smile on my face.  Hmmm….

Current holdings:

AMRN, LRAD, TINY, CERS, MNKD, GLUU, AAPL, NVAX and 30% cash.

@tradingmy2cents

The trades I made in the journal were time-stamped in twitter

Comments »

Today was a “gotcha” day.

Market opened higher and never looked back.

Out of the four chases I bought yesterday, $CERS and $CUR were doing good.  I took profit on $CUR when the daily price bar looked like a shooting star in development.  Although it hadn’t been confirmed by tomorrow price action, I decided I didn’t want to wait around for it.  So I took my money and run.  However, $CERS bar looked strong and solid; therefore, I’m holding this one.

Seeing that $MNKD and $KERX were struggling in the morning, I placed a stop losses order on both of them below the intra-day low for protection in case the downdraft persisted.  Fortunately, I wasn’t stop out for neither of them.

After browsing the charts, I bought $GLUU, $FB, and $NVAX for the swing trade.  By day close, I’m only taking small heat from these positions.  I’m going to give them a day or two to see if price action will take traction to the upside.

$AMRN, $LRAD, $TINY continued to rally onward; together with good price action on $CERS, my portfolio continues to march forward.

Current holdings:

AMRN, LRAD, TINY, CERS, GLUU, FB, KERX, NVAX, MNKD & 30% cash.

@tradingmy2cents

The trades I made in the journal were time-stamped in twitter

Comments »