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.

May 13- 15

My trade journal was behind.  Here's what I did on May 13  No trades since.

The S& P has broke to new highs... but  the S&P is notorious for fake breakout outs

The TNA-- Russell with 3X the fun:
After a sharp breakout 3 weeks ago the initial breakout has held on the weekly.  So was the sharp a backtest or a start to a pull back.   --- Remains to be seen.

PTBI,
Entry: $8.85
Exit: $9.30

The overnight dream order worked well again.  5 for 5

GEVO:
$5.14
Exit 1.$5.44
Exit 2: $5.23

This was an earnings pop.  I sold off 1/2 on the pre-market action.  I was hoping to sell the second half into the opening thrust.  It popped to 5.60s but quickly reversed.  The remainder of my postiion was stopped out for a small profit.

BIOC
Entry: $3.08
Sold: $2.852

 Breakout Failed again.

SSNI
Nice little base,  I was looking for the Fishhook Entry.

LGIH:
Entry: 18.12  -- It looked like the break over 18 would get us going -- didn't hold.

Still looks good on the weekly in the flag.

May 12

Markets make a big gap down and then rally.   Not much conviction 114 /92 4% + 4% -

ICLD:
I got stopped out at the close.  With earnings tomorrow I'm perfectly fine being on the sidelines.  There's no rule that says I can't jump back if this firms back up.
4.43
Exit 4.10

GEVO 1:
This looked like was firming up so I bought $5.05  I was stopped 4.64

GEVO 2:
Like I said there is no rule that says you can't get back in. GEVO had earnings and they caught on with the momo crowd. I picked it back up with some size at  $5.14  (session closed @ 5.44)  Plan to hold overnight and sell opening gap.

PTBI: 8.84 (a.h. buy)
My last 4 after-hours or buys into the close have worked well. I've taken 0 of those trades to the opening bell and I expect this one will be no different.  9.20-9.40 will be the target.

May 11,

The Market sold off, but breadth was positive.

Interestingly, the move retraced exactly back to the 61.8% fib line--- if you believe in that sort of thing

Despite the red markets, it turned out to be a good day for me.



I sold off My ADRO for a 9% gain on the position since Thursday.
Entry:  29.10
Exit: 31.82.
 I hate gaps in my direction as they usually kill the move.  ADRO gapped and faded so I closed it.  (2 hour chart)

GIMO 30.46,  Looks like we have a decent Flag here.  The opening move was pushed back.  But the breakout point held as well

ICLD:
$4.43  ICLD gave the fishhook buy on Friday but couldn't hold the breakout.  Today it gapped and tested the buy point and then rallied.  There's a lot of power behind this one.

BIOC @3.08  This is climbing that bottom weekly trend line.  I could see this launching from this point.  Tight stops.

WUBA  
 Bought some  75 June Calls @ $3.65.  This range is high and tight.-- can sometimes lead to massive moves.

IPHI  June 19, 22.5 Calls @$1.00
Earnings were good -- pushing IPHI to a w1 breakout.  I love that it back tested-- Should be cleared for higher prices.  I bought the calls

NDRM (Short) 12.92  added another lot to my position.
An inside day.

PTBI:
Fishhooked and it ran hard.
Entry $9.13  --- Exit $9.62  I had intended to take this overnight like my last 3 PTBI trades but this time it went parabolic into the close so I figured I'd take the money and run.

May 8 Trades:

With the Vix running into resistance on the hourly over the last day.

 expected that we would get a rally and we did.   The markets took off right from the open:

Still my first  trade was on the short side:

NDRM, was gapping up on some questionable news.  What I found interesting however, was that there was no volume -- it was gapping 20% on <2K shares trading... I started hitting the bit.   I was able to get filled at several points with a high of $13.30

Entries $13.02, $13.30, 12.75

Targeting the  gap  fill.  Stop b/e.

PTBI,  My end of day buy, did not work as well on D3 as it did on the previous two days.  I took small gain here

Entries 7.35, 7.42
Exit. 7.47

GURE:
Stopped out.  This was a case of size kills.  Because I put on the additional size on yesterday,  I had to decrease my stop.

Filled at 2.44

CYNI, Entry 4.62 -- Exit 4.64
This was exactly the chart pattern I look for. (fishhook is circled) .. but I learned after I got excited and took the trade that this was a buyout.   Given that my reason for the trade was gone, I had no edge so I closed this.

May 7: SYMX, GURE, VGGL, TROV, CYNI, ADRO, PTBI,

SYMX

Sold 1.95
bought 1.86
Stopped 1.68


GURE:
My Gure postion really broke out. Unfortunately, I did not have a ton of size on the trade.
It then started to fade.  I added on the theory it will hold its weekly support and the surge will resume.  If I'm wrong, I'll have a tight stop to the downside.  Still I get the feeling I should have been selling instead of adding.   As a faded pop, often goes lower than where it started originally.

Add Gure:
2.67,
2.58

VGGL:
Entry 2.83

Stopped 2.25 (.04 slippage)

I played  this poorly. After the initial breakout attempt failed, I should have lightened up.  Instead I held for far to long and had too much risk on this trade that was never a great set up. 

TROV:
After being stopped out early this week (May 5)   I jumped back in.  I figured if this could fight off a failed breakout and rally even harder it is going to go.  As it came in today I bought at 9.42.  Pleased to see that it rallied all the way back to 10.

CYNI:
Bought 4.62. I thought this was up due to earnings and would fishhook.  Problem is that the gap is due to a buyout by CIEN.   I'm not in the merger arbitrage trade business.  I'll exit tomorrow.

ADRO:
I nailed ADRO for a good gain off the bottom The back test has now held 2 days in a row.  I'm back in at 29.10
with a stop 27.30   I could see this getting back to the mid-30s

PTBI:
My last two A.h. gap plays worked, So I'll try it again.  As volume is not as strong the gap (if any) is not likely to be as large so I'm playing it progressively smaller.vIt actually got slammed today but the A.h. often will give relief.

Entry $7.44

APRI 6: trades SYMX, PTBI, REPH

SYMX, hit a fishhook towards the close today.  Bought at 1.83.  I was sold off some of the position at  2.11.

PTBI 
My buy at the close yesterday  worked very well... too well as my GTC "dream order"  sold me out at 6.95 from a 6.42 entry.

I decided to try it again. I bought just after market close at 8.62  But PTBI decided to run for the remainder of A.H. so I sold for a .90 gain at 9.52.    10% in a just a few hours was too good to pass up.

Added to REPH,

I just don't see this breaking down here,  The volume has  waned, the 50 day ma has held and its right on support.   A bounce in the broader market could cause this to snap back.

Add: 8.47

STOP: 8.00

May 5, Fade all day.

Not a great day with the markets as the faded all day.
4% + gainers 73   4% losers : 195

I had nearly all my stocks gap up today, although the premarket futures were down.  That's generally not a good thing. I exited 1/3 of ADRO into the Gap (which is what I should have done on all my stocks but I was focusing on ADRO)  and the remainder on a stop when it came in.

ADRO
This was a great trade for me as I made $5 on my highest sale and 3.62 on the remainder.   I had risked .40 on this trade.
Entry: 25.40
Exit 1: 30.42
Exit 2. 29.02

After ADRO, it didn't go so well.

BIOC got stopped at 2.86 - The LOD.  In retrospect I was probably to excited about the weekly breakout.  I was smart enough to size this pretty small. I should have waited for the Fishhook setup on the daily to take the weekly higher.  I'll set an alert and try again when it comes around.

MNST:
Entry 141.68
Stopped 139.03 Again filled at the LOD.   I tightened the stop here as markets were fading.  This was about playing defense.

TROV:
Another stop 8.26

IBKR:
This one was actually profitable.  But given the fades on everything else, I raised my stop as IBKR rallied and did not give it much room. I figured a small profit and cash off the board was better than risk in a marginal setup.

Entry: 34.60
Exit. 34.89

PTBI:
PTBI is this week's wild child.  Soros took a position and added to it over the last two quarters.  4.3 Mill float.  It traded 60 Million today.

My plan of attack was to buy relatively small towards the close after it came in.  Nearly every crazy train stock will gap the next  morning.  I probably was about 15 minutes early as it closed under 6.00 but sure enough, in AH back to my purchase price.  This will be a wild ride tomorrow. .. if not the remainder of the week.

Entry 6.40