June 12 Trades.

Another good day for momo stocks.  Although the averages suffered:

FOLD backtest and ripped:
I put in a limit order of 14.20 which was hit and the trade closed.
Entry: 12.55 (6/3)
Exit: 14.20  +13%

In addition to buying the breakout, the back test can be even more profitable and even more rapid.   Although I did not do it here, it should re-enforce my observation of the prudence of selling a burst and buying its' back test.

INUV:
The move faded to the backtest and held.  My aversion to loss stopped me out at breakeven.  Fortunately, I came to my senses and realized  that a stock that back tests and holds is very powerful and you want to be in it.   I re-bought 2.97

Summary: 
Entry: 2.83
Exit: 2.85
Entry: 2.97

MBLY:
A great thrust,  decent gains.  Decided to book the profits and wait for the back test to re-enter.
Entry: $49.47
Exit: $51.58

NLS:  
Hit the weekly breakout and couldn't push ahead.  A yellow flag and given there are so many other better plays, I decided to just close it that to wait it out. Basically a break even trade.
Entry: $21.81
Exit:  $21.93

Opened:
SEED: Fishhook breakout, I saw this was a prospect for the breakout in my Thursday scan.
Entry: 2.64

EBIX:
The front side of this breakout was one of my better trades this quarter. 31.92- $37.10   Now it has retraced to the 10 Week avg and bounced.  This is a lower Risk type of entry in a stock that is a proven winner.
Entry: 33.63

LAKE:
I took a small speculative position in this on Friday.  The RSI on a monthly has broken out and would be highest ever--well other than that  incredible surge last summer where LAKE ran to $30 in a week.

Entry: 12.30

The monthly shows that something is developing here.

ADD:
BZUN
Highest weekly close warrants adding to the position.
$12.07

Range expansion on the daily.  I like that it was able to fight off the previous pull back after the range expansion off the bottom.  This one could be a Boomer! 3.6Million shares.  That's rocket fuel. 

May 19-21

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

May 19 --21

AMCN
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.

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

TNP
Entry: 9.75

Weekly:
Broke range:

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

PTBI:
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

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

ERI
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

TANH:
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.

NDRM:
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

Life:
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

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.

Current positions -- weekend update

SSNI:
This one broke out very nicely.  I'll run it until it gaps.

EBIX: I bought the weekly breakout and we have a continuation week this week.  This one has had a history of some continuation moves.  I like the look of W2.

TROV:
I hit the breakout pretty well at 9.4. With a close at all time weekly highs and volume being strong I like this one for higher prices.  I'm watching the 10.27 level as being a key holding spot.  If we get that back test and a hold.  I will add to this position.

WUBA: Weekly looks good for higher prices. WUBA has now fought off many attempts to pull it back.  Was this past week a weekly breakout? still  to be determined.

GIMO:
somewhat similar to WUBA, Nice flag following a big move.  only 25Mill shares outstanding, volume shows interest and earnings were pretty good.

IPHI: A great push ahead this week.  RSI now over 70. MACD at  all time year highs

LGIH:  Weekly breakout has not yet held. But I bought on the push ahead intra-day prior high on this flag.  On the plus side has not broke down either.. sometime I just need a few extrudes.  (SSNI needed an extra day and then it really popped)

RSI is a touch low for my normal momo trading plays but I like the drivers for this company.

NDRM: Still playing the short side here. I want to see this fill the 11.75-12.50 gap.  but If it takes out 13.50 I'll close it down.

IPHI: