opened: MNDO, JRJC, JNUG

There were a couple of decent MOMO burst type set ups and the gold miners put a reversal after getting pounded so I put on an m/r trade on in JNUG.

MNDO:
A break out with an earnings gap,  Good volume.  If the gap holds, this could be a runner.  Not crazy about the fade but it held up ok.  Right now its a "meh" trade.
Entry:  3.28
Stop: 3.10

JRJC
This former momo darling set up great and now put in the range expansion move.  Its trading action is what I like to see as it closed near the HOD (which I had the pleasure of buying 6.25).  If it finds some volume 7 looks to be the first target.

JNUG
I bought this as a mean reversion trade.  It had some nice action today after being destroyed over the last 2 months a range expansion after a tight dojo move can sometimes signal a bottom.  I'll stop at 4. prior day's low.

Some caution is still in order as a similar type move failed the next day in the end of September.   If it holds it could  move quickly to 8-10

Stopped out of HYGS-- Lessons in narrowly missing a great trade.

Arrgh!  I was absolutely right on this reversal but my stop just got nicked before It took off.

Stopped at 14.89.  -- The absolute low of the day.

The next day +1.91 it would go as high as 17.50 within another 2.

Entry: $16.04

Exit: $14.89  - $1.15 .9R

Summary

There are a few ways I can choose to feel about this trade.  At one time I may have felt regret or chose to put a wider stop in taken more risk etc...  I could take pride in that I was right about the reversal.  But pride is not a consolation prize when money is lost.

Here is what I now assess this trade.  I used the wrong setup.  I was thinking that this would behave like the big % movers that  the fishhook set up works so well on.   So I got my fishhook entry signal and took it (causing me to buy high) I didn't put a ton of size so I could enjoy a wide stop.

What I see now is that a big% move out of a down trend is not appropriate for a Fishhook.  Rather it is a trend termination signal. This means I should have waited for the consolidation (i.e. RWLK) and bought the range expansion. Had I done so this would have worked beautiful.  As it turns out, it's a lesson learned.

XIV mean reversion Trade

On Friday I opened up XIV after it reversed. I've done well in XIV so I thought I would take another shot.  This time it went for a b/e trade as it started to fade pre-market.  Since I have not elected mark-to-market accounting, I thought it best to preserve the gain and my ability to trade it over the next 31 days. 

Entry: 31.73

Exit: 31.88

Closed XIV, Mean Reversion Trade

As I had hoped, the rally put in another + day.  My XIV trade did very well.  I exited as I saw the russell rally faltering.  Divergence suggests this rally will fail.  I had hoped for 32 but I'd rather sell well when everyone is still giddy.

Entry: 25.22
Exit: 28.75 (14%)
+ 2.9R  This turned out to be a very nice little swing trade

Opened XIV

Market looked good moving of lows in the A.M. I thought I would see if this would play.  Gapped down and I bought 25.22  Nice rally to a high of 27.74.  I moved my stop up to 26.05.

Target 33.

Closed HCLP

When mean reversion trades work, they really work.  HCLP Really worked.  No need to press my luck here.  This was the largest move this particular stock has ever made.  

Entry:  44.88

Exit 1: 45.68 (1/2) (+.80, 1.7%) 1

Exit 2: 50.53 (1/2) (+5.65,  13%)

+2.15R --- and with that I pass the 50% mark  on the year!

closing remarks 

What I did well on this one is I kept stalking it.  Earlier this week when it faded, I got out with a small profit.  I saw it set up again and hit it again.  

Taking partial profits  I don't necessarily trust bounces in this market.  They have been very profitable because I don't trust them.  By taking partial profits, I moved my stop to a point where I could let the remainder run and still end up with a profitable trade.   

Why Did I sell?

The overall trend of this stock is still down.  As much as I would like to think that HCLP bounces right back to the highs there is too much damage.  I initially targeted the 200MA (48.40) as the profit target for this trade. Obviously, I got more than that and am pleased.  I'll let the rest of the traders play the rest of the bounce.  If it sets up again, perhaps I'll play along. 

TNA bounce -- nope stopped out

I took a shot on a M/R trade on TNA has the russell looked like it was showing some signs of bouncing.  The bounce was short lived.  Set a stop at the LOD which was taken out.

Entry: 58.57

Exit: 56.60

Loss: 1R.  Summary.  Probably too much size given market conditions. 

Closed EMES bottom falls out

What I had perceived as "solid" support at  100 gave away and flushed this trade very quickly.  I failed to act quick enough and realized a larger loss than I had anticipated taking on.  My attempt to mitigate my risk by selling calls helped slightly but not nearly enough.   Out @90.80

Trade summary

Entry:  103.48

Exit: 90.85

2526

calls: entry 1.70  (short)

Exit: .40 (covered)

1.30  260

- 3.9 R  (ouch).

This turned out to be my worst loss of the year, It fell quickly and I was not prepared.  My worst trades seem to always happen after I've had a good run and my equity curve hits highs.  At that point, I take too much risk, or in this case try to bend my rules. This could have been a disaster as  EMES then fell another 17 points by the end of the week. 

Opened EMES

EMES has been one of my favorites but it has gotten smashed since september down 45%.  Another bounce off 100, which has been good for 10% + moves.  I figured as a M/R trade this set up is as good as any.  I'm not seeking a change in the fundamentals but clearly something is not going well in the sandbox.  Or this could be an amazing entry. We'll see. 

I bought at  103.48 as SLCA went green and HCLP had made back over 1/2 its 4pt loss.   EMES appeared to be bouncing until it didn't at the close. 

I expect this to  be a short term trade- likely 1 day. 

Stop at days low.

Opened: TKMR

TKMR got hit with a valuation downgrade and got smacked very badly.  My lack of trust in this stock is the reason I took profits on Friday on the last swing.  Today I re-bought at 24.80.  I liked that it had bounced off the 10MA.  My trade looked like it would be solid winner, until it got hit with late day selling.  Bounce or out? Still to be determined. 

Stop at 10MA. 

XIV successful mean version trade

I liked XIV for a bounce off the 200 MA: 

38.82 premarket:

Mae a nice little run to nearly the 50MA and began to back off. I sold @$40.86

Trade summary
Entry 38.82
Exit:  40.86
+.07 R.

X Doesn't mark the Spot

X was a stock I was tracking for a while.  I thought it was setting up for a decent entry for a reversal as it would fight to retake the 50MA.  Yesterday's action showed action that was typical of a reversal action. Today X started trading up so I bet on the M/R  reversal thesis. My stop was at the days low at that time. ... didn't happen X began selling off and I took a small loss

Entry: 37.28

Exit: 36.46  - .5R

Opened XIV

So that market has sold off and is due for a bounce. Premarket I entered XIV @38.82.  XIV has bounced at its 200 MA very constantly and has made V shape recoveries. This is a M/R trade that  I want to give it a shot at its 50MA perhaps it can make the type of trending action that it did in April.
Stop: close below 200 MA.

Opened EMES

I opened EMES towards the close today at 111.47 after  it bounced from a low of 107.75.  EMES enjoyed 2 days of massive selling closing below the lower Bollinger band.  I think it is likely that EMES wages a bounce attempt assuming the markets don't fall off a cliff here.  Stop at the LOD.