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

June 9, Dip buying.

I was not seeing a lot of surge on the momo names today.  My best performing stocks held around even FOLD, TROV, FEYE,  JD,

   On days like today, I prefer to buy pull backs in stocks that have shown power rather than to take mediocre breakouts.  The strong survive and are the first to bounce back.


Added a bit to my EHIC position 16.11
It got a nice pop off lows, now to push the highs again.

 I'm able to add on these pull backs because I took a larger position into the initial breakout, so I'm playing with house money as I've bought back a number of shares below what I sold.

PBMD:
Entry 2.16
Holding that 4 week avg.  This presents a good risk to reward  point here.

Was not able to take out hourly highs, lots of shadows at that 3.35 level.

KITE: Kite had a powerful more to end last week.  CaRT stocks have been surging (notwithstanding today)  I think its appropriate to take a shot at buying weakness here.


Jul 17, 65 calls @3.20

LIFE:
Entry: 22.43,  (Small).  In for my third run at LIFE.   Wide spreads are the norm with this one.  It was punished today on weak volume considering the size of the move.  I'll take a bite here.   Stop is 22 on a weekly close at this point but I'll expect a bumpy ride for the remainder of the week.

June 3,

It felt like a pretty pedestrian trading day despite markets being up.

NEW Positions

Bought:  FOLD,  $12.55 premarket.

Gapped up on news, I knew where this was trading and realized that the gap would be a weekly breakout so I jumped---  Not a smart decision  because the gap got slammed.  That said, I'm encouraged because  FOLD rallied back up to day highs towards the close.

Daily:

RELY:  Recent IPOs--- I love these.
Entry: $11.71

Daily

Weekly: Obviously, has Big Gain potential.

CMCM: Looks primed and breakout point is right at target.
Entry: 33.74

CLOSED:

BOOT: This breakout failed
Entry 1 26.68
Entry 2: 26.15
added into the stop but retained stop levels.  If they had held I would be sitting pretty. they didn't

Exit 26.

LIFE:
Nice move following the breakout.
Entry: 24.90
Sold at 27.00

MYCC: -- too pedestrian without the bang this is susceptible to a big red bar.

Entry: 22.76
Exit: 23.03

June 2.

Cut size on ONTY This is a stock that should have every reason to sell off to the $3.50 base... but it hasn't  that's a very bullish sign.  Gaps can act as support.

That said, I needed to reduce position size  to give this trade a change  size after this didn't immediately pop.

Entry 4.09
Exit.  3.87 (1/2)

STV: I jumped the pattern soon and realized my mistake soon afterwards.  No reason to compound a bad trade with a bad decision.
Entry 5.14
Exit. 4.90

Now that the losses are out of the way.  Boom time:
I scooped TANH as low as 12.25 last week.  Monster. breakout.  So I sold because that's what I do.

Entry 14.66
13.64
12.25
Exit 1. 15.35
Exit: 16.66

New Trades:

LIFE:  Weekly IPO breakout.  This is the second time I've traded this stock.  But I admit it scares me. Massive spreads, thin,  but oh so powerful.

Entry 24.95.

ZAGG:
Weekly breakout, oh so powerful
Entry 10.08

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