Opened MVIS, REPH, CYTX, CRMD, Closed AGIO

After spending the weekend focusing on refining my Big Gain Hunting scan, I've come to realize the importance of a new high on the RSI as it confirms the power behind a stock.  Knowing that a stock has more momentum behind that any time in the last 3 years makes it easier to buy when it looks like it is coming in. 

MVIS was my first target this morning.  I could see this was going to gap up. But I waited until the open it faded quick in the morning I bought at 2.92.  

Buying the fade this morning was easier that I knew MVIS was showing more RSI power than at any time in the last 3 years!  That's significant as it suggests the character of this stock is changing.  So while I could have banged this out as swing trade.  The weekly shows that there could be a lot more here. 

Entry: $2.92

REPH:
On REPH there was a nice Fishhook Breakout.  I wasn't sold on this early as there bid seemed flimsy at 6.10 and under 6.00 the pattern would fail.  But when the bid firmed up to 6.33 I hit the ask at 6.40.--and I am glad that I did as it ran and closed up a $1 from my buy point

Entry: 6.40

Why did I buy what looked like a flimsy breakout?  The weekly tells everything. RSI all time high on the breakout told me there was something more here so despite not having volume confirm and a timid breakout I went for it.  The last hour it really went.

CRMD:
CRMD has  one of the highest momentum in the entire market.  Today it pulled back and I found my Low Risk Entry.

On the Weekly, CRMD has an all time high RSI, Looking for a weekly fishhook.

On the daily:
CRMD had two bounces off the its 10 day EMA-- That will identify support and the stop for the trade while we wait for the Weekly to Breakout.

Entry: $7.98

CYTX:
Has a multi-year weekly RSI breakout.  As today's move took it over 70 on the weekly I both.

CYTX has a nice move on the daily after pulling back and reversing on Friday.

AGIO:
AGIO was a trade I had entered prior to my weekend RSI study.  I realized after studying the best performing stocks that this stock had too many flaws at this point as did my strategy for it.

Finally, I closed my AGIO position as I wasn't thrilled with the setup and trying to catch a bottom of a momo stock that's range bound can be a dangerous game.  I exit this trade with a 1% portfolio loss.

Entry: 108:15.
Exit: 105.44

The range was too wide for the size I had on and I'm not overly optimistic that this breaks to the upside when range breaks.

The Weekly RSI has sold off 

AGIO

I took this one on Friday. This has presented a nice consolidation area after a big move.

Entry: 108.15

Closed AGIO 1 day 9.64% gains.

My swing trade from yesterday broke out in a big way:

I sold out for several reasons I continue to be skeptical of market action so I've taken profits quickly.  Perhaps too quickly, perhaps not.   My previous C.A. trade in PANW had a similar pattern and impressive breakout only to fail the next day.

I had only planned on selling half but I got nervous as it came in more. So with that in mind, I exit with a very nice profit

Entry: 65.75
Exit 1: 72.09 (+ $6.34, 9.64%)  1152
Exit 2: 71.51  (+$5.76, 8.76)
+ 4R

Open Swing Trades: AGIO, P.

I opened up two swing trades today: one long, one short.

AGIO.  This is a Chart I've been watching for a week or so now.  It has that great flag after running up.  The market pull back did not touch it.  Although it's previous breakout out attempt failed. I felt that this on was A go.  Bought 65.75, Stop 63.75.  Multi-day moves have been rare these days  Continuation Anticipation trades but this looks as good as any.  I just wish it had more volume.

P: This is what I look for in a short.  A solid down trend.  The 13 MA is tracking it well which means the selling is relatively quick.  Then a bounce back up which initially fails. I took this at the end of the day @22.22  stop at 23.05