Remainder of weeks trades.

Closed ENZN:
Entry: 1.41
Exit 1: 1.44 (40%
Exit 2 1.81  (60%)

I had a very good battle plan on ENZN,  I bought the Fishhook setup.  Although the post market enthusiasm did not hold over the night and there was a fade.  This trade worked wonderfully.

 I did several things well.  First because this did not immediately take off, I felt it prudent to somewhat reduce my position size so that I could let the position go slightly against me without risk to my account.  The strategy worked as ENZN pulled back to the breakout point and then found a base.  In the afternoon it started ticking up. found a base and in the afternoon, it took off.  

TAKE Aways

• Cutting position size can make all the difference between staying in a trade and getting stopped out
• Plan the trade: I was not shaken on the pull back as I understood It was back testing the breakout point, that point held rather quickly and then this was range bound for several hours before exploding 
• Don't be greedy,
• I was looking for 1.95 but I saw 1.85 hold several attempts.  At that point I decided it was better to take profits than hold out for top dollar.  
• HOD was 1.86, when it breaks a .05 and can't keep going that can be the sign of a top.
• I got out .05 from the top.  I'll take that.
• Understand what you are trading. 
• ENZN was moving because Icahn has  small ownership interest and VLTC was up 1200% or something obscene. 
• While I knew that would get this motion if it fishhooked, I had no illusions that this stock is capable of pulling a move like that and here's why:
• Float size over 43 Mill
• Options (allow hedging, reducing likelihood of short squeeze) 
• The company has discontinued operations and is only making money on licensing of past drugs.  In other words, it is basically an annuity.  Not really much sex appeal.

VSLR:
Increased position size following successful back test of last weeks close.  I also like VSLR has now had a ATH weekly close.

Size added at 14.17

EBIX: This would be more consistent with a momo burst It has a pull back.  Notice how the RSI has held 50 on the pull back and popped back up.

On the weekly not quite a W1 B/o but close enough that a momo burst could take it there.  RSI is still very strong so I gave it a go.

Entry: 29.89

MVIS:
Although I got shaken out earlier with  a smaller position lower,  I am happy to buy a bigger position higher.  5 weeks after the its high its coming back that . The fact that this has popped back up says there is a lot of strength here.

Entry: 3.58

LBIO:
Similar to 3 weeks ago LBIO had a washout type move to the 12 week avg.  On both occasions they recovered immediately on the daily.

Entry 12.30

DPLO:
Took out the high for a w1 breakout out.
Entry: $34.72

APRIL 23, no trades

April 24:
There are some yellow flags forming and its prudent to take defense of measures.  I reduced some size and took some profits.

DPLO I not only got a gap on an upgrade but also a continuation move.  That said I'm not a big fan of gaps (on analyst upgrades) and as much like the weekly chart, it seems prudent to take profits.

Sold: 36.25 

KRNT:

I had previously increased my position on the 300 pt down day on this one, I was hopeful for a big rebound and a test of 16.  Although I'm up KRNT is range bound here. I need to start thinking of defense based on a few yellow flags on the over all markets.  Cutting my position size  in a thin stock is  a decent first step.

Entry: 14.69

Entry 2:  14.56

Exit: 14.85