3/5/15 opened and closed

DRAM:
This fishhook didn't work at all as the buying pressure completely died up.
Entry: 3.29
Stopped out : 2.87  fortunately, I traded it small.

SHAK:
Another fake break. This looked like it was good to go I bought at 46.99 it immediately ran to 47.77 and looked like a multi point move was in the works,  It then reversed hard
Stopped out 45.44

RESN:
Took this  short as it failed to get into the gap now 2X in a row.
Turned out to be a great entry at 11.99

ADXS:
Entry 10.70  made a nice .40 push from my buy point with a late day push.

CAPN
Looked for a dip buy on CAPN as it was hit on a secondary warrant announcement. This appeared to be bouncing so I bought but the buyers faded away and so did the stock. I wasn't risking this big so took a small loss.

Entry: 7.66
Exit: 7.21

Trade Journal, Position summary Many moves, many profits.

Today was one of those days where most things work.


My BOXand ARRY buys gap, Sold off half BOX, the remainder runs.  manage risk sell off some ARRY I can live with that. RESN runs I sell into that run.  AAPL proves why it the worlds most valuable company.  My calls are up big.  My EMES puts gain as EMES falters.  I bought some NFLX it runs,  Bought some GNVC and HPJ off bounces  If they firm up I'll be sitting very pretty and then  TWTR looks like NFLX q1 2014 as it rallies off the gap test and finally I add PME in A.H. off news that it has eliminated its V.I.E. structure and received an investment which would value the company at 800 million or a stock price of 9.50

 I haven't taken stock and given the full run down my holdings without further adieu charts:

BOX:
IF only every stock I bought did this in yesterday at 19.30 close today 20.99.  Still I think this has a chance to take back its IPO high close of over 23, we will see.

ARRY:
Wedge breakout.  I did a partial sale at 7.98 because it gapped in the morning and faded.  It then regained some strength.  This will be off to the races if it can get some space over 8.

EMES
Continuation to the downside following the rejection by the 10week avg.  If another continuation day look for low 50s

HPJ 

I liked the bounce and reversal off the gap.  My working theory is that this will now come around to make another run at 6.00

Entry 5.40

NFLX has that power move potential.  I bought today at 451.37 and caught a decent piece of this 10.00 move. I sold off half the position at 455.10 to manage risk.  If this can get some continuation.  I  would think $475 is in play over the next couple of weeks.

AAPL gets the break above 120 and my 115calls are now deep in the money.
No changes to position, none anticipated as this run is just starting looking for 128.

TWTR:
A power move gap, which has thus far stuck.  I bought this move as TWTR rallied off the gap.  The low of the day presents a great stop making this a well defined trade.  If it gets over 48 I will consider adding as it will break range and show trend.

PSXP
Nice consolidation, which is needed to push over 80.  I've cut down my position.  I will re-initiate my position on a a pull back to 75 or a break above 80.

GNVC: 
This is a high momentum stock that they attempted to breakdown.  Right on the trend line it rallied hard.  That tells me this is still "in play" I'll take a piece here at 4.00.

MPG:
Weekly.  Still holding a small position.  This has had some momentum and could be a decent winner if it gets going.  Right now this range is getting very tight

WATT:
This company has a really cool product which lets you charge wireless devices without plugging them in.  It won a number of CES awards.

 In many ways its similar to RESN.  I've bought  the consolidation here small, which I'll cut if it breaks to the down side and add if it breaks to the upside.

The Grand Finale 

PME

I'm treating PME as An episodic Pivot  Here's the news:

 PME is "a global fishing company based in the People's Republic of China (PRC), today announced that the Company's wholly-owned subsidiary, Fujian Provincial Pingtan County Ocean Fishing Group Co., Ltd ("Pingtan Fishing") has entered into an Investment Agreement ("Agreement") with China Agriculture Industry Development Fund Co., Ltd, ("China Agriculture") pursuant to which China Agriculture will invest RMB400 million (approximately US$64.0 million at current exchange rates) into Pingtan Fishing for an 8% equity interest in Pingtan Fishing's operating company. The investment values Pingtan Fishing at approximately 5 billion RMB, or US $800 million at current exchange rates. The closing and funding of this strategic investment is expected to occur no later than February 13, 2015."

END of VIE structure!

When I previously looked at this stock I found the VIE structure too complicated and too sketchy to invest.  Today's news removed my objection:

"Pingtang terminated its existing variable interest entity agreements, or VIEs, as permitted by the laws of the People's Republic of China. This provides the shareholders of Pingtan Marine Enterprises with direct ownership of its subsidiaries rather than contractual ownership through the VIE structure. "

• PE Ratio of 2!

This stock initially came up in a scan due to its ultra low PE ratio.  I passed however, due to the VIE structure.  Now that that appears to be resolved this stock is ultra cheap and now offers direct ownership. 

Summary 

I believe that this is a game changer and bought at 4.10 and 4.20  in A.H.  Even with the appropriate China discounts PME should trade north of $7. But again, It is Chinese and I'm not going to go overboard until I get my hands on the SEC filing for this deal.

Closed, RESN, GSB, KITE

I closed on RESN this morning as it enjoyed another big burst.

I built this position on the dips and figured it was best to sell it off before RESN stalled. 

My first buy was too high 17.39 as I chased.  Second buy 16.30. Final buy  15.60  Average 16.80

Exit. 17.84

GSB:
I had kept a tight stop at this and it got hit.  This wound up pretty much as a wash.
Entry 1: 3.10
Entry 2. 3.25
Exit 1: 3.21
Exit 2. 3.13

KITE:
I got stopped at 59.40  pretty close to the low, this one hurts because it waged a massive reversal from that point:

Position Summary RESN, MPG MOC, PLNR

From time to time it is important to take stock of existing positions. Here are my holdings not including the positions I opened today. 

RESN:

Here's my star performer and I believe in everything I've been seeing in the action despite how difficult it might be to hold this on day-to-day basis.  Looking at the weekly it has made it much more clear.  I've bought a lot of this one. 

Entry 1: 9.26

Entry 2: 9.05

Exit 1: 10.90 (partial

Entry 3: 10.40

Entry 4: 11.79

Entry 5: 10.21

MPG: A recent IPO.  It's thin, but it is showing some life. I like that it has scalloped out a bottom and appears ready to push higher.  A close above a new weekly high would be the sign to add to this but right now. I'm content with a trial position

Entry: 18.95 

PLNR:

When pull back buys work, you look so smart... especially after a move like today.   This was an easy trade in the since that it had a clear defined point where I would take the loss if I were wrong. I figured that there was a decent chance of holding the lows.  

Entry 7.03

MOC: 

This is the only position that I'm down in from $3.08.  I was looking for a Fishhook but that faded. MOC  has shown that an ability for power but the volume has now evaporated.  I would add but the volume has really waned

MOC popped after catching a very large contract from the USPS.  I like the theme of private security after the French terrorist attacks and the fundamental are very much aligned for a higher move...if only the volume comes in.  If it drops below 2.40 I'll thrown in the towel. 

Open Positions Summary.

RESN:
After a major breakout move, RESN has a consolidation week.   I'l look for last week's lows to hold an perhaps another push forward.

CARA:
A nice three week consolidation followed by a breakout, It retested the 10s and held.  Now, I want to see a close above $11, which has presented some trouble for  CARA this past week.  If it gets going this could be a monster.  A relatively small float + IPO neglect, + exciting new drugs.

MOMO:

After a solid rejection, MOMO has consolidated. I believe this has a lot of ingredients to power ahead but this will be a make or break week. The consolidation should break one way or the other.... TBD.

New Year, New Trades, opened MARK, RESN, VDSI short

Opened MARK
I opened Mark at 5.23 on this weekly breakout. The volume was very impressive.  Float is 7 mill.

On the daily, a volume surge out of the down trend.

I felt this is worth a go, as the battle lines clearly drawn.  I don't think this is a one and done type of move. Interestingly, nearly all the volume came in at the during the second half hour of trading.  I'm not sure what that means.

Added RESN:
I doubled my RESN position on the pull back, which turned out to be a great place to add:

Stop I was stopped out a VDSI on the long side, but I used a double stop which flipped me to net short:
The failure to make a new high is not a good sign for this nor was today's bearish reversal.  I've noticed a lot of leading stocks are failing b/o  and then fading.  This suggests that we are probably gearing up for a bearish move down.

Long Trade:
Entry: 29.04
Exit 1: 28.62
Exit 2: 27.21

Short Trade:
Entry: 27.21

Opened YRCW, RESN

YRCW is setup very nicely. The Gap has held and now its breaking out of consolidation. This move was all in one solid push with not much action after.  Stop at the LOD 

RESN

RESN is a recent IPO that I've been waiting for to move.  Today it did. Perhaps I was chasing bought at 9.26.  But it's another thin stock that moves fast.  I got the buy alert and did not hesitate despite the size of todays move.

The Weekly Chart:
This would be Week 1 of the IPO trade b/o.  It's go time and I'm not missing whats about to follow.  Stop < $8. 2 week support.