Sunday, February 22, 2015

Opened Trades JUNO, SHAK

I opened  a couple of recent IPOs.   For these stocks, I like the ones that are making their second run after dipping from the  IPO excitement.

JUNO.
$45.50

The weekly took back the low days high, looks like a reversal.


Nice move off the bottom , We'll see if it can get some Momo  here. 
SHAK.  
Bounced hard of the IPO low.   This had an ugly fade, which makes me not that optimistic about this trade but quit period ends next week so should get the underwriters telling us how great this stock is. 

Entry 46.  
Stop: 44.45



a

Friday, February 20, 2015

Closed MA, JRJC, CAPN, MPG


Closed my MA March  88 Calls out here. This was a little slow to get going but then it really did and I took a 120% gain.  

Entry: $1.71
Exit: $3.75 

I sold here, figuring it was better to sell into the move.  Especially on an options trade and during the last earning gap the move faded after two burst days.  So between this and AAPL thats two 100% winning option trades in a row and I thought I hated options trading :-)




JRJC: This one could have worked but it faded yesterday into the bell taking my profit with it took a small loss here rather than mess with it  A winning trade doesn't pull this shit.

Entry: 6.12
Exit: 5.83

CAPN:
I got too excited about the potential fishhook setting up and let my self increase my test position into a full size on this trade too soon, which forced me to move up my stop loss.  I got tagged at the end.

This stock could still set and  work on the long side but it has to take 6.20 before I'm interested again.


Summary  of Errors:
First day buy
Failed to sell a 15% pre-market gain on that buy .
Added to the position before the pattern has developed.

What I did right: Got out, kept my planned exit left the Kept damage  minimal.
Entry: 6.13
Entry 2: 6.14
Entry 3: 603
Exit: 5.24

MPG
I've had  been in this one for a bit it didn't do much but finally broke out this week.  Volume waned So I'll get out while the price is decent. 
Entry: 18.95(1/23)
Exit: 19.78
4.3% -- I suppose its better than the bank.



Wednesday, February 18, 2015

Journal

ANTH!
I drew this trendline alert over the weekend. I got the alert and I struck at 4.07. It ran to 4.95 and I took profits at 4.63




Tuesday, February 17, 2015

Trade Journal Tuesday Feb. 17

I added to my XON position It appears that we are entering a consolidation area here (doji at the top).  A bit of consolidation should set XON for higher prices.


I caught a Huge  move in EBIX! I sold off half my position  at 25.77 as I did not expect much from this trade.



Bought some MGNX.- 35.57
 This was one I've been watching for a while It pulled back to the 10 week and consolidated nicely.  Now its ready to go It should retest its prior highs.


HPJ-- sold a 1/3 off. 5.75.  This had looked so good early running as high as 5.96.  The fade was not fun.  If HPJ does not resume towards the highs, I'm out.


JRJC: Has a breakout from a great base. Now back over 50 / 200 MAs.  Continuation please?


Bought NDRM 11.29.  I like this set up as it follows a tight range along the 10 Week.  This stock has demonstrated its power potential.  This becomes an "easy" trade as it has a clear line regarding where the position would be wrong.


Saturday, February 14, 2015

Trade Journal Friday Trades.

AAPL:
All good things must come to an end.  I tightened my APPL stop and wound up exiting the position.
Entry: 5.05  March 115C.
EXIT: 11.51  (+6.46  128% in 9 sessions.)

I felt that AAPL was getting "toppy" here as it has gapped but then faded.  Since I was traveling, I knew I would not be able to monitor the position so I felt prudence dictated tightening my stop.  As the trade ends, this is my second biggest winner YTD.

IDRA: In trading there are some things you cannot control.  One of them is when one of your stock gapping against you.  In trading, you can't control whether you are right or wrong, you control only whether you decide to stay that way.   IDRA announced a secondary which caused it to open slightly below my stop.   Another reminder why I rarely put a lot of size on normal swing trade.  Although IDRA would bounce from that point, more often than not it is best to stick to the plan and let the trade terminate.  My loss was only slightly larger than I had planned due to the gap.

Entry: 4.25
EXIT: 3.91
-.05R

TASR:
TASR Gap fades,  I hate that.  I set my stop to in the money at it was hit at 27.28
Entry: 27.11
Exit 27.28





XON:
This one has some momo. Look at that weekly candle launched from the 10Week AVG.
Entry: 39.63

Trade Journal, Thursday TWTR, ZIOP, MA, BOX, CDXS, ARRY, TASR

I was traveling so I did not get my Thursday or Friday updates posted.  I added a few positions and closed a few, including AAPL, on which I made well over 100% profits on my calls.

Thursday Trades:
(Friday bars are shown)

TWTR Add: 48.19
(earlier entry, 46.40)  This trade is going proceeding exactly as planned.  Thursday was a "shakeout day" as it took it up and then down $1.00.  AAPL did this as well before proceeding higher.  After seeing the rejection of the downside move again, I added to my holdings.



ZIOP:
My stop was hit at I was out of this at 9.06.  This one has gone volatile.  Unfortunately for me this rallied up 10% from where I was stopped and I missed the run.

Entry 9.55
Exit. 9.06



MA:

MA gor a very nice burst out of consolidation which breaks it out of a wedge.  I bought the March 88calls @ 1.71.    MA was showing some power on a weekly chart as well,  I'm looking for a multi week move to $92-$95.


Weekly:

BOX,
Out of the last 25% of my position as Box faded down to 20.08.
Entry: 19.33
Exit 1: 20.05 (50%
Exit 2. 20.62 (25%)
Exit. 3.  20.08

(Note: BOX is currently consolidating and could present an excellent momo burst setup over the next couple of sessions. )

CDXS:
CDXS is a biocatalyst  company that I've followed since their deal with GSK.   It is still a relatively unknown company but with heavy insider buying.  It recently has begun a breakout.  It has pulled back to where I would expect it to so I bought at  $3.43.


PFNX is recently surging  (7 -13.50 in the last few sessions) which should cause traders to look at other plays.  CDXS is well-positioned has top tier partners..   Stop on the position at 3.

ARRY:
I sold out of this one as it hasn't been able to get going to the upside.  A couple gap fades makes me hesitant.  I'd rather manage risk than wait for the b/o or b/d.

 TASR:
TASR gets in on the action a decent breakout from consolidation but TASR has been prone to some false moves so this is a small position that I'll look to get my stop into the money.

Entry: 27.11.


Wednesday, February 11, 2015

Closed PME, EMES (PUTS) NFLX, WATT

I had to do some pruning.

First and worst, PME.  This turned out to be a pop and drop.
Again, I remind myself that first day "EPs" usually aren't and is best to let them settle in.

Entry 4.16
Exit. 3.30


EMES:
This one worked much better. Still I closed because the range is contracting and I'm on front month OTM puts.

Entry:  1.80
Exit 1: 2.60 (44%)
Exit 2. 2.35 (30.5%)


NFLX:
NFLX looked so good early.  I moved my stop up and then NFLX faded taking me out.  I took gains out of the trade but it feel like a participation medal given the 20 pt move I could have caught.

Entry: 451.37
Exit 1: 455.1
Exit 2: 454.31
Exit 3: 455.07

WATT:
My test position broke to the down side. So I banged it out.
Entry:10.28
Exit 9.67


Tuesday, February 10, 2015

Trade Journal, Position summary Many moves, many profits.

Today was one of those days where most things work.


My BOXand ARRY buys gap, Sold off half BOX, the remainder runs.  manage risk sell off some ARRY I can live with that. RESN runs I sell into that run.  AAPL proves why it the worlds most valuable company.  My calls are up big.  My EMES puts gain as EMES falters.  I bought some NFLX it runs,  Bought some GNVC and HPJ off bounces  If they firm up I'll be sitting very pretty and then  TWTR looks like NFLX q1 2014 as it rallies off the gap test and finally I add PME in A.H. off news that it has eliminated its V.I.E. structure and received an investment which would value the company at 800 million or a stock price of 9.50

 I haven't taken stock and given the full run down my holdings without further adieu charts:

BOX:
IF only every stock I bought did this in yesterday at 19.30 close today 20.99.  Still I think this has a chance to take back its IPO high close of over 23, we will see.

ARRY:
Wedge breakout.  I did a partial sale at 7.98 because it gapped in the morning and faded.  It then regained some strength.  This will be off to the races if it can get some space over 8.
EMES
Continuation to the downside following the rejection by the 10week avg.  If another continuation day look for low 50s
HPJ 
I liked the bounce and reversal off the gap.  My working theory is that this will now come around to make another run at 6.00
Entry 5.40


NFLX has that power move potential.  I bought today at 451.37 and caught a decent piece of this 10.00 move. I sold off half the position at 455.10 to manage risk.  If this can get some continuation.  I  would think $475 is in play over the next couple of weeks.


AAPL gets the break above 120 and my 115calls are now deep in the money.
No changes to position, none anticipated as this run is just starting looking for 128.

TWTR:
A power move gap, which has thus far stuck.  I bought this move as TWTR rallied off the gap.  The low of the day presents a great stop making this a well defined trade.  If it gets over 48 I will consider adding as it will break range and show trend.
PSXP
Nice consolidation, which is needed to push over 80.  I've cut down my position.  I will re-initiate my position on a a pull back to 75 or a break above 80.

GNVC: 
This is a high momentum stock that they attempted to breakdown.  Right on the trend line it rallied hard.  That tells me this is still "in play" I'll take a piece here at 4.00.
MPG:
Weekly.  Still holding a small position.  This has had some momentum and could be a decent winner if it gets going.  Right now this range is getting very tight

WATT:
This company has a really cool product which lets you charge wireless devices without plugging them in.  It won a number of CES awards.

 In many ways its similar to RESN.  I've bought  the consolidation here small, which I'll cut if it breaks to the down side and add if it breaks to the upside.



The Grand Finale 

PME

I'm treating PME as An episodic Pivot  Here's the news:

 PME is "a global fishing company based in the People's Republic of China (PRC), today announced that the Company's wholly-owned subsidiary, Fujian Provincial Pingtan County Ocean Fishing Group Co., Ltd ("Pingtan Fishing") has entered into an Investment Agreement ("Agreement") with China Agriculture Industry Development Fund Co., Ltd, ("China Agriculture") pursuant to which China Agriculture will invest RMB400 million (approximately US$64.0 million at current exchange rates) into Pingtan Fishing for an 8% equity interest in Pingtan Fishing's operating company. The investment values Pingtan Fishing at approximately 5 billion RMB, or US $800 million at current exchange rates. The closing and funding of this strategic investment is expected to occur no later than February 13, 2015."
END of VIE structure!
When I previously looked at this stock I found the VIE structure too complicated and too sketchy to invest.  Today's news removed my objection:
"Pingtang terminated its existing variable interest entity agreements, or VIEs, as permitted by the laws of the People's Republic of China. This provides the shareholders of Pingtan Marine Enterprises with direct ownership of its subsidiaries rather than contractual ownership through the VIE structure. "
  • PE Ratio of 2!
This stock initially came up in a scan due to its ultra low PE ratio.  I passed however, due to the VIE structure.  Now that that appears to be resolved this stock is ultra cheap and now offers direct ownership. 
Summary 
I believe that this is a game changer and bought at 4.10 and 4.20  in A.H.  Even with the appropriate China discounts PME should trade north of $7. But again, It is Chinese and I'm not going to go overboard until I get my hands on the SEC filing for this deal.

Closed, RESN, GSB, KITE

I closed on RESN this morning as it enjoyed another big burst.

I built this position on the dips and figured it was best to sell it off before RESN stalled. 
My first buy was too high 17.39 as I chased.  Second buy 16.30. Final buy  15.60  Average 16.80

Exit. 17.84




GSB:
I had kept a tight stop at this and it got hit.  This wound up pretty much as a wash.
Entry 1: 3.10
Entry 2. 3.25
Exit 1: 3.21
Exit 2. 3.13



KITE:
I got stopped at 59.40  pretty close to the low, this one hurts because it waged a massive reversal from that point:


Monday, February 9, 2015

Opened GSB, ARRY, BOX, EMES (SHORT), Closed PBPB, Partial close PSXP

I opened a bunch of positions today


GSB is an earnings related EP. EPS enjoyed a 100% increase and management suggested the trend is likely to continue.  Bought premarket.

Entry 1:3.10 (2/3)
Entry 2. 3.35 (1/3)
Exit 1. 3.21 (1/3)

Reduced some size as the market was pulling back.  It's better to manage risk than to take a big line. Still decent action on this stock.

ARRY.
I've had an eye on this one for a while ,

Caught the 10day and rode the wave. Decent close, I'm looking for another burst here.
Entry 7.81
Stop. 7.44


BOX
I'm a big fan of IPO "bombs" These are the stocks that can't match the initial hype and the first wave of investors gets burned creating room for the second push to catch the move.

BOX has bombed but has now caught momentum.

Entry:  19.32


EMES:
EMES rallied this morning and looked like it might get over its magic line.  Nope. Slammed with a $4.00 reversal.  I bought the Feb 51.5 puts as it started to fade.

PBPB:
This had looked like it was going to break range to the upside.  But Day 2 was pretty weak and day 3 I was stopped out.

Entry: 14.46
Exit:  14.17

I love small losses.  This one cost me just a .25 of my portfolio.
PSXP:
Small losses look even better when your gains are 10X the amount of a loss.I sold off another 1/3 of PSXP

Entry: 74.16
Exit 2. 78.35

Still holding a 1/3 of the original position.  This needs to push 80.  It's probably better for it to set up around 76-78 before trying to break through.