Closed AVNR

My swing trade in AVNR comes to an early end as I awake to the news that it got bought out this morning at $17.  I even got to sell it higher than 17 -- trading can be so grand when things work out like that.

Entry: $14.39
Exit 1: 14.74 (risk management, size reduction)
Exit 2: $17.07  (+18.5%)  +1.5R

Given the market conditions I didn't have big size on this trade so it goes down as just a regular extra base hit.  No complaints and am I disappointed I reduced my position size yesterday.   Gift horse meet mouth.

Current position summary : WAB, VTAE, AVNR, WFM

Shorts:
I'm thinking that high volume reversal was significant. Today, it got a 2% move which is a range expansion for this company.   I see that as a great short set up because of the bearish divergence near a 52 week high--meaning this stock is not likely to run hard against me.  I can keep a tight stop and look for a 10% plus sell off.

LONGS:
VTAE:
I bought the range expansion 3 days ago and then added at 19.  This one has the look of something ready to really have some fun.

AVNR:
In at  14.40.  Very pleased that it shook of a CLR FDA letter today. Less pleased that it re-reversed.  Although many biotech's had reversal moves today.  I'll just keep moving the stop up and we'll see what it can do.

WFM:
Bought the breakout today.  Nice consolidate. And now the initial stages of a momentum burst move?  Volume was decent for a 1/2 trading day.

Opened ESI, TUBE, EXAS, AVNR

ESI: Looked ready to resume the uptrend.  It bounced off of 8. which provides support
Entry: $9.16

Tube  Staged a nice reversal after hitting support

AVNR: nice range expansion.  Good action going into the close
Entry: $14.40

EXAS:

After some contraction, EXAS got a pop.  It gapped the open and then faded. As it got a late burst of strength I bought.

Entry $24.23

TRADE summary: AVNR, JRJC, JNUG, BITA, BABA VTAE

Today looked like it would be a very profitable day as I had some great early morning moves in JRJC and AVNR.  But then both started to fade.  Then things got shitty.  I took a position in BITA as it looked ready to pop.  It dropped.  And towards the end of the day, my  M/R JNUG traded failed (although I scaled back the position when it was slightly profitable) completed the sell off and stopped me out.  The one saving grace was that VTAE broke out big to the upside.

I sold off AVNR as it came in for now 3 days in a row after strong starts.
Entry: 12.96
Exit: 13.23
+.25R .

JRJC came in as well but I decided to hold  another day.

BABA:
I took a stab at an entry post earnings on a small position .  It didn't work  -.3R. Too bad because BABA traded up fore most of the day.



JNUG
It got a little pop in the AM but I wasn't crazy about betting on a "V" shaped recovery of gold. I used the bounce to reduce my position size.  I hoped the remainder would hold but it didn't

Entry, 4.48
Exit 1: 4.56 + 32
Exit 2: 4.00
-.7R

BITA
This looked like it was ready to make a big move.  and it did but to the downside after I bought

Entr: 83.55
Exit: 80.14
-2R

So up to this point the day was pretty much a bust.  I then got a pleasant surprise as VTAE which had not done much and nearly stopped me out on prior days went nuts late in the day.

Currently sitting at a 1.5R profit.  If there's any continuation tomorrow this will be a great trade and more than wipe out all the losers listed above.

Closed AVNR, Opened AVNR

AVNR was interesting it gapped so I moved my stop up into the money at 13.19 so I would take  a small gain if stopped. The gap faded so I took  my small gain.  AVNR then sold off hard but ultimately held the B/o level so I  bought at 12.96 as it bounced.  I still very much like this chart pattern.  It is similar to AGIO which exploded out of the base.  The fact that AVNR held the prior days gains and closed stronger is a good sign.

Opened TUBE VTAE AVNR

A busy day as there were a number of setups I really liked.

Tube
A recent IPO that has had an orderly pul l back and a great breakout.  Now it appears that the back test was successful and when selling looked to be ending I took a position as it went positive
Entry $15.09

VTAE
A recent IPO that has shown some power. After checking down and retesting it went higher. This one has good potential.
Entry:
$13.70 ,  I bought higher that I would like. For that reason I didn't put a lot of size on .  I still think it makes a run towards 17 and for that reason I was willing to pay up for it.

AVNR

This is the move I was waiting for out of this pattern.  A great Bull Flag that was wrapping around higher like AGIO did before it burst out.  In at 13.01