Facing the Music, Stopped out P

Stopped out of P at 23.24. -.65R

Entry: 22.22

This looked like it was about to roll over but yesterdays action was pretty strong taking it through the  13MA.  That continued throughout the mooring as this went as high as 23.67.  Earnings are tomorrow.  I would not have held through earnings unless I had a gain to work with.  

Open Swing Trades: AGIO, P.

I opened up two swing trades today: one long, one short.

AGIO.  This is a Chart I've been watching for a week or so now.  It has that great flag after running up.  The market pull back did not touch it.  Although it's previous breakout out attempt failed. I felt that this on was A go.  Bought 65.75, Stop 63.75.  Multi-day moves have been rare these days  Continuation Anticipation trades but this looks as good as any.  I just wish it had more volume.

P: This is what I look for in a short.  A solid down trend.  The 13 MA is tracking it well which means the selling is relatively quick.  Then a bounce back up which initially fails. I took this at the end of the day @22.22  stop at 23.05

Market Sell off continues. Profit taking.

As I expected, the relief rally failed.

Both of my recent shorts, P and KNDI hit my profit targets and I closed both positions. On KNDI my Target was 12.  Half the position was covered at 11.88.  The second half  remainder was covered at 12.70 after the 9EMA was touched-- it was my stop following the move down and it tracked very well. But if I used a 10 EMA I would still be in.   This one is probably headed lower

P, Took out a very nice profit in one day.  There was more down side left but ... I suppose I was too quick on the trigger.  But after +2.22 move the profit was too good to pass up.  No regrets.

New Positions -- Short P, KNDI

Based on my belief that the market is in the midst of short term relief rally, my plan was to initiate some short positions as the market bounces.  I took two additional positions.

Pandora $P, Short 28.87  --- Heavy down that appears to sill have some momentum, a bounce on support at 26 followed by two bullish days rallied to the 9 ema which has tracked the down move pretty well.  Initial Target 26.  Stop at 31,  risking about 1%

KNDI  Short 14.04-- Showed very poor relative strength .04 and the MACD is picking up downside momentum.  Stop 15.90 --high from three days ago.  Risk 1.25%