Tuesday, May 5, 2015

May 5, Fade all day.

Not a great day with the markets as the faded all day.
4% + gainers 73   4% losers : 195

I had nearly all my stocks gap up today, although the premarket futures were down.  That's generally not a good thing. I exited 1/3 of ADRO into the Gap (which is what I should have done on all my stocks but I was focusing on ADRO)  and the remainder on a stop when it came in.

This was a great trade for me as I made $5 on my highest sale and 3.62 on the remainder.   I had risked .40 on this trade.
Entry: 25.40
Exit 1: 30.42
Exit 2. 29.02

After ADRO, it didn't go so well.

BIOC got stopped at 2.86 - The LOD.  In retrospect I was probably to excited about the weekly breakout.  I was smart enough to size this pretty small. I should have waited for the Fishhook setup on the daily to take the weekly higher.  I'll set an alert and try again when it comes around.

Entry 141.68
Stopped 139.03 Again filled at the LOD.   I tightened the stop here as markets were fading.  This was about playing defense.
Another stop 8.26

This one was actually profitable.  But given the fades on everything else, I raised my stop as IBKR rallied and did not give it much room. I figured a small profit and cash off the board was better than risk in a marginal setup.

Entry: 34.60
Exit. 34.89

PTBI is this week's wild child.  Soros took a position and added to it over the last two quarters.  4.3 Mill float.  It traded 60 Million today.

My plan of attack was to buy relatively small towards the close after it came in.  Nearly every crazy train stock will gap the next  morning.  I probably was about 15 minutes early as it closed under 6.00 but sure enough, in AH back to my purchase price.  This will be a wild ride tomorrow. .. if not the remainder of the week.

Entry 6.40

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