Yesterday was just one of those days when the market has not opened yet and I was already trying to get out of a losing position trade that gapped down. That debacle is MTRX where Prospectus had the unfortunate luck of being in the middle of the bloodbath following a $3 gap down. The only option is to take the loss and lick the wounds later.That one trade made me zone in the whole day and I just started closing my RIMM position for a not so chess-pounding gain, ATW, GES, AMZN at an average exit of break-even, closed GRMN, BHI and SLB for a nice gain. I also sold some of my MA, CF, BIDU, TNH to lock some chess-pounding gains as these positions showed some weakness along Fib extensions. Despite the numerous request and calls from my talent manager, my focus on the task at hand suppressed my desired to do my most requested and anticipated stock dances for the crowd over at WallStreak.
I also picked up new positions in CMI, CROX , ICE and added some more in my HANS and FMCN positions.
For the LIVE trading room, I sold out 150 shares of JCG at $56.13 and 100 of RVBD at $44.90 leaving 100 shares as a core position. The stock still look good as the pullback yesterday did not have the volume but with the general weakness in the market, it could cave in. Stop is now set to $42.70.
JCG Trade Result
|Total gain from trade operation -->||$766.50|