Thursday, May 21, 2015

May 19-21

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

May 19 --21

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.

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

Entry: 9.75
Broke range:

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

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

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

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

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.

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

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

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