Monday, May 18, 2015

May 18, Trade Journal -- Love the Backtests.

I had one of my most profitable days of the year today. EBIX, GIMO were rock stars!.

S&P new highs. Bull trap? or  a real breakout?

Transports still weak:

The key will be whether the Russell can take out the highs:

In any event, the market indexes are not flashing caution here.  So I've stepped on the gas and its paid off big. 

I added some new positions.  I Picked up some AMCN off the successful back test. 

Entry  5.37

On the weekly there's a clear break of the flag.  Many attempts to break this down and the bears couldn't do it.   AMCN had mediocre earnings over the close. Not much action. I have to think it's a non-event except there are a lot of bears going to expect the fade.  If it doesn't occur, this could go quite a bit higher.

BONA: I bought BONA 10.59 as it successfully backtested  and then went on to take a weekly high.  BONA did not disappoint and I added in the 10.80s  closed at day high

PANL:  This is not my usual trade this one is really thin ... Kate Moss Thin. But look at the volume surge on Friday.

I read through the CC and earnings reports and see a lot to like with this one.  It could double without anyone noticing it:

 $0.22 per common share, compared with $6.6 million, or $0.19 per share on a pro forma basis1, in the first quarter of 2014, representing 15% growth during a a traditionally slow period. 

SALE:  I love these IPO stocks  SALE has fought back and landed a weekly B/o.
   I'm In 21.34

PTBI: I took PTBI into the close again.
Entry $9.24 Nice wedge on half hour.
On the Weekly just power!

EBIX:  Nailed it
Entry 31.81
Took a 1/3 off the table. 36.46.

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