Market overview

I've traded a lot and haven't updated the journal for individual trades.  For the first time this year, I find my self entirely on the short side. But like buy strength on longs, I'm selling the weakest stocks short. 

But first some index charts

VIX: RSI - piked up support -- look for a run to the green line

Biotech:  Earlier this month, and most of this year biotech were strong.  This week my biotech trades did not hold breakouts and I was repeatedly stopped out of them. 

BIB, The index although one of the most bullish sectors got its breakout rammed back down.  If there's a positive it would be the that the volume is diminished.  This could start an avalanche and really get going to the down side.  

IWM:

TRANSPORTS:

Transports have been weak for most of this year I think the move below the RSI support line and failed rally up to 10week and RSI line is an ominous signal.

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ENERGY:

The phrasing continuous-- volume still strong but not blow capitulation strong. 

Financials: I have no concerns yet with this sector-- It appears to be the pocket of strength sure it was down on the week but is holding the 20 day.   Bullish trades probably can still be found here. 

Individual shorts:

GMCR:

This stock is massively wounded

FWRD:

Struck hard on high volume

Should continue to drip

entry 48.64

RPD:

entry 17.08

Blowing out the bottom on the longer scale

ATI:

June 18.

Big IWM / BIB breakout

Bio-tech booming:

And the Index everyone thought was underperforming just broke out. hmm

Another profitable day in a profitable month.  I've done a good job of cutting losers and mediocre trades.

Closed:

LIFE

Entry: 22.43

Exit: 22.60  basically breakeven as this was just never able to get going off the support line, which is not a good sign for this one. 

LAKE:

Still making post earnings adjustments and it ran my stop.

Entry: 12.30

Exit 1: 13.00

Entry 2: 12.09

Exit: 11.56  --- Although this ends up a loss.  I kept the discipline to keep it small, which can be hard  to do when you're on a winning streak.

TROV:  This is the one I'm most disappointed in, as I thought there was a good chance this would get back to the highs after bouncing off.  Instead it re-visted the support.  However, I moved my stop up and was stopped out for a  .29 gain.

When it ran to 12.70 this morning I thought it was off to the races but instead it was a fade all day:

Entry: 11.96

Exit: 12.25

A week 2 should be positive after such a great breakout.  This week was not a good sign. 

INUV: This feels like it stalled and volume has dried up.  Sure it could still go but this is not a high conviction trade for me so I'm out:

Entry: 2.97

Exit: 3.07

New positions:
DWRE: 70.26 --- great breakout RSI at levels which launched previous monster run.

Monthly:

ZIOP: Took out the weekly

But more exciting is the monthly breakout

Entry: 11.82

REPH:
Entry:  13.25

Increased size EHIC 19.96
Size Reductions: SEDG 39.43  SSNI 13.77