Friday, January 2, 2015

New Year, New Trades, opened MARK, RESN, VDSI short

Opened MARK
I opened Mark at 5.23 on this weekly breakout. The volume was very impressive.  Float is 7 mill.
On the daily, a volume surge out of the down trend.

I felt this is worth a go, as the battle lines clearly drawn.  I don't think this is a one and done type of move. Interestingly, nearly all the volume came in at the during the second half hour of trading.  I'm not sure what that means.

Added RESN:
I doubled my RESN position on the pull back, which turned out to be a great place to add:

Stop I was stopped out a VDSI on the long side, but I used a double stop which flipped me to net short:
The failure to make a new high is not a good sign for this nor was today's bearish reversal.  I've noticed a lot of leading stocks are failing b/o  and then fading.  This suggests that we are probably gearing up for a bearish move down.

Long Trade:
Entry: 29.04
Exit 1: 28.62
Exit 2: 27.21

Short Trade:
Entry: 27.21

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