Sunday, May 3, 2015

May 1, Trading Journal

After a rough week for the markets. The bulls came out on Friday.  I took a few more positions, But my ETSY m/r trade was stopped. 

VGGL has just had a couple of power full weeks.  Its weekly RSI is now well above its 52 week. high.  

On the daily VGGL pushed above 2.80 which was my buy point. Filled at 2.83. Not happy about the fade but it filed the gap and my stop by .01.  So we will see what happens

Stop 2.55.

REPH has pulled back from 15 to the 8s now.  I bought it as mean reversion trade off the 10week / 50 day avg.   As a m/r trade I like that it has traded down 5 days in a row, is an an earshot of the 10 week, which is an are where it previously consolidated (i.e. support.)  I also like that the volume has been minimal on the pullback.

Entry: 8.90
Risk. .5%
Stop <8

A nice powerful bounce of the 50day.  Although it closed the week down, I am still seeing this as a w1 b/o. As it pushed the breakout point.  Last week was the wrong week for it to try a breakout but Friday's move shows the interest is still there. 

Stop: 136.5

earnings are on the 7th, after the close. I am not a big fan of binary risk so  I am looking for the 2 move to sell into 

Weekly RSI > 70 =lotsa power. 

My dip buy broke range to the downside, so I'm out.

The  other IPO  I took on Thursday is looking better. 
My 25.40 buy is still looking decent. I'm not in the clear on this trade by any stretch but if the bottom holds this would make up for about 5 or 6 losing trades on a run to 30.

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