May 30, New breakouts

UEC
Closed:
Entry: 2.90
Exit 2.93

I didn't trust the move in these type of stocks so as it did not break 3.00 I sold as it came in.

ANTH:
another one that faded a bid so I banged it out.
Entry5.28
Exit, 5.34

I did not this to go red on me so I  bailed.

VIMC:
Weekly breakout  at $14.01
Entires, $14.59, $14.99

MYCC:
22.76

HDP:
26.53

A couple of back test following the move.  

May 28. Overcoming the China punch.

The big news today was that China got smacked in the face.

Nothing like waking up With an ETF down over 15%.  That said, I was prepared to take it to the MA, which essentially held (ok failed by .02) YINN rallied into the close.

There was a weakness in WUBA so I decided to close my calls and take the loss:

Other than that, I had a good day. Lead by FEYE which broke big.

Bought UEC:
2.90 nice close with strength.

ANTH: 5.28

PFNX:
Entry 18.30

AGEN:
I took a partial close in the AM at 7.80.  I closed the remainder when it ran above 8.00 and then failed.  A morning pull back is common and healthy in a breakout.  A failed push after it regains its footing is not a good sign imo.

AAOI: 
Entry 16.53
Entry 2: 16.81
Exit 1: 19:
Entry 3: 18.18
Exit 2: $17.48

I missed played this one a bit.  My add yesterday should have been very profitable yet I let the position fade where I got stopped for a profit.   Had I used the pop to sell out again, I could have added where I was selling.    I still think this is in play to the upside.

ERI: closed  not a position I really was into.  I gave it a chance, the breakout was mediocre and since I had considered just closing it for a loss a couple of days ago, I'm content making a couple 100 on it.
Entry 8.24
Exit: 8.44

BOJA:
26.38
Closed 27.43

TANH: Broke to new weekly highs.  I took a partial sale at 15.34.  As this is thin and my position was bigger than I had wanted.

EMES: Short 39.30

May 27, Sell off held in check.

The markets gained back much of their losses from yesterday.  Looking for another run at the highs tomorrow. 

Sold:
LGIH
I was never that keen on this breakout.  Perhaps its because It initially faded on me before breaking out.   So at the first hint of a pull back I bailed.  I need to trust my charts more.
The W1, was at 17.63, however, I saw that this had a number of shadows at the 18.00 level so I targeted a move above 18 for the kill.

I took it at 18.12.
Exit 1: 18.44
Exit 2. 18.35.

As I now look at this chart I see there was no reason to get out.  But sometimes clarity only comes when the slate is clean.

AGEN: A great breakout. Given the rest period shadows I set my alert for the high on the past W2 (red bar) my alert was set at 7.32 but this one was quick so I didn't get it until 7.47 and I knew I wanted it so I paid up to 7.49 for the remainder of my position-- a wise decision this was decent all day.

Hourly: getting to some very overbought levels.  To that end, the plan is to take partial profits into the initial opening thrust.  Should go over 8.

TROV:  Back into TROV has it had a successful back test and has ran back into consolidation. This one has already proven itself

Big Picture:  I caught the big breakout early this month.  It looks like it has an ascending base here.  Since the back test was successful, a another burst could follow.

Entry: 11.29

AAOI:
Yesterday I sold a portion of my AAOI position into the thrust over 19.   Today, there was weakness (expected after a 16% move) and I was ready to pull the trigger to buy my position back.   I got it at
18.18 --.12 off the low -- a decent pop followed.

May 26 -- Markets sell off - more chop zone.

Markets sold off today.  Weekly breakout has failed thus far, but If I had to guess we will straddle that line all week.

Vix did run into resistance and then sold off:

I don't see a full break down here of the markets.  Most likely more chop.  If I had to guess a sell attempt in the morning and then a rally into the afternoon.

Anyway, although the markets falter and it was a wild day. My positions did well for the most part as my equity increased about 2.5% today.  I made some well - timed buys in FEYE and TANH.


 But I was not completely unscathed.

SALE-- this one was not to be as I got stopped

Entry 21.33
Exit: 20.52 (.03 slippage)

AAOI closed up 16%. -- -Monster breakout.  I decided to use a bit of the thrust to book some profits.
 I sold off a portion of my position at $19.00

Dip buy adds, FEYE
$44.25

TANH: This is one you just have to trust your levels.  I did and bought at 12.25  I was rewarded with a pop into the close

On a weekly makes sense as there was the back test following a great move.

BOJA:
I do love the IPOs.  I bought BOJA into the close 26.38 as it reversed red to green to close at the high.  That usually translates into a move in the next day.

Great little run on the hourly:

Existing positions breakouts.  I had two positions that had lagged finally get going, ERI and LGIH

May 22, closed PANL, BLDR, HDP, Opened, FEYE, YINN, AAOI

PANL

The volume completely dried up in PANL,  For that reason (and only for that reason) I determined that I needed to get out.   As volume dries up, spreads get wider which makes this a dangerous trade.  I saw that there was enough size on the bid for me to exit my position, so I took it, and a small loss. I sized this trade small because I saw this as a risk.  If I'm honest with myself, I should never have taken the trade.

Entry: 3.83

Exit: 3.61

 

HDP,

I caught a very nice move here. 

Entry: 24.97

Exit. 26.49. 

I exited as this was not a true week 1 breakout.  I'd expect a pull back, which I will look to reenter.  In the mean time, I'll lock some profits to set a floor on my equity curve.

BLDR:

Stopped out. Disappointed as  I had decent hopes for this one but it never got going and then it faded.  Sell, Re-set the alert: A lot of tails on the upside candles.  This decided it was not ready to go yet.  So I'll get out and set an alert to see if it might make another attempt. 

Entry:  $13.32

Exit: $12.71

On the daily, that's when got me in, and the thumbs down got me out.

New Buys:

FEYE:

45.14,  I wasn't fast enough on my order at 44.40s so I was forced to let it run. When it came back in that's when I took the position.  The downside of paying up is that I had to reduce my position size. 

Just shy of a weekly weekly breakout on the edge of the "cup" but still a multi-week breakout.

More importantly,  we triggered a breakout on the monthly:

AAOI

Entry: 16.70

Monthly breakout:

And on the weekly:

China Bulls

Chinese efts had broken range to the upside, HAO, ASHR, FXI, YINN

ASHR: beautiful breakout.   China is ready to rip higher Choose your instrument.  

YINN:

62.26

I went with YINN because YINN is the 3x Chinese bull etf.  Although it is still within its range,  I took it because the other ETFs have broken out and well, look at the power on the last breakout 40 to 64 in 3 weeks.

Although U.S. Markets are closed, China is not and is surging to a 3% gain. Boom! 

May 19-21

I've been dilatory in my Journal. Anyway here's the update.

May 19 --21

AMCN
Gapped down on earnings and then rallied from that point.  I didn't trust the move so I figured it was best to just get out.

Exit 1: 5.47
Exit 2. 5.49  too bad this one would run.

BLDR
Bought: 13.32  got in and then the fade.  Still holding the flag.  I'll see how this plays out.

TNP
Entry: 9.75

Weekly:
Broke range:

GIMO:
Great move  but its time to start playing it safe
Exit 1: 32.30
Exit 2. 31.97

PTBI:
I decided to let this run rather than pop it off at the morning gap.  Glad I did:
Exit 1: 10.61
Exit 2: 9.85  (let it come in too much on the remainder still a decent profit)

BONA:   This one went about as well as as a 2 day trade can go:
Nailed the breakout  added on the way up and phased out.
Entry 1: 10.59
Entry 2: 10.82
Exit 1: 11.89
Exit: 12.06

EBIX:
A fantastic weekly breakout
Entry: 31.91
Exit  1: 36.46
Exit 2: 37.10

ERI
Entry $8.24 this stock has shown some explosive potential but hasn't really took off after last weeks earnings breakout.

PBTI-- Again into the close play for the gap:
Entry: 9.53
Exit: 9.95

HDP: Some great power coming from earnings.  Looking to burst to weekly high
Entry: $24.97

TANH:
Another IPO trade.  looking for a burst.  Not thrilled about that it was unable to hold its week one.

Entry 14.66
Entry 2: 13.64

TROV: Closed
This is the breakout that started the run.  I should have sold a portion into the second week burst.  Anyway I got stopped out here for a decent profit.
Entry: $ 9.42
Exit: 10.35  9.87% gain.

AMCN: Short
So I decide to get cute and Short AMCN as it looked like it was breaking down.
Didn't work at all as I short near the bottom and then it rallies and takes me out.  Fortunately, I didn't put much size on but this is not my trade. This is not my setup.

Entry: 5.82
Exit:  9.34

IPHI: Closed calls,
Entry 1,
Exit 1.75   The problem was I should have gotten out over 2.20 but there was no liquidity and widespread.  The down fall of options.  Yes, I am complaining about making 75% in a week and a half.

NDRM:
Again I pay for trying to squeeze more out of a trade than was there.  This should have been a decently profitable trade but I wanted more and I take a .96 loss.  That was .20 of slippage.

Entry: 13 (short)
Stopped 13.96

Life:
A very thin wide spread bio tech -- turns out it was pretty profitable
Entry: 22.95
Exit 1:  25.34  -- Smart selling off half on the thrust.
Exit 2 23.92
 (I'm pissed that I missed the super spike. I had an order trying to get out after it hit 27.80 but the bids fell away pretty quickly)   Should have been the sign to take what I could get.   Closed at the end of the day for about $1.00 on the second half.

PBMD: So many traders had their hard luck story with this one.  I did too. I took it over night with the thought it would bounce pre-market like PBTI had done on the 6 times I successfully took that trade.

This one when the opposite.  Rather than being sold out.  I was down 30%.  That's why I don't take big positions on these types of trades but still the day 1 trade is always a widow maker.  Even still, this was under my 2% threshold for losses.  That said, I won't be doing that again.

Not the gap I hoped for:
Entry 1: 5.62
Entry 2: 4.32 (small)
Exit: 3.94  

VLTC: went green to red after it bounced off the 10 week MA. With the speed it was appreciated I assumed there was some news.   There was a rumor that Ichan increased his position.   I didn't buy the rumor (actually i did)  because no news outlets were reporting. Although this spiked from my buy point, i decided to close it out for a small gain.  (A good decision it turns out)

Entry: 8.34
Exit: 8.45

Closed TNP,  small gain. This felt lethargic:
I would rather preserve my capital and miss out than to try to squeeze too much out and take a loss. See NDRM