July 31

I need to Dwell on a mistake

Entry1 

I broke a rule jumped in pre-market figuring this would push a big move. Should have realized that it had not cleared resistance.

Entry 2. 

Then made another "mistake" and doubled down after it went against me, which put me on more size than I would want to take buying into a loser.  After doubling the position, I had a 2% risk on the position, which is more than I would want to take on this type of set up. 

Remedy:

 I woke up early with a clear head.  There would be no chasing losses.  I needed to right size the position. There was a a .30 gap in the am and used that gap to unload 1/2 my position and get back to an appropriate size.    I avoid an over size risk.  The stock held its bounce and went higher all is right in the world. 

June 2.

SYGP:

Partial sell on the opening

SHOP:
Sold the premarket gap to 32:

This one is still in play look for it coming out of that hourly base.

FIT:   I think a lot of people went into FIT yesterday in hopes of a gap.  I was prepared to sell into a gap had that happened.   Yet there was a quick sell off about 45 mins before the open and FIT came bouncing back.  I knew that would be a good sign as the dip shook some of the weaker hands out so this trade became less crowded.  I decided to get out going into 44. I figured the handle would be some resistance and I would rather sell into the handle before the test as if the resistance held this could have dropped quickly and I would be chasing a bid.

It did briefly get over 44 and when that happens there is a quick rush and then a fade.   That is exactly what happened and FIT could not regain the strength after the gates opened at 44.

This is still one to watch... First level I would consider is 40 then the gap in the 37.5-38 range.   This is still crowded and it needs to punish a some of the "easy money" traders.

EHIC:
Opened 14.28   Back to this one after being stopped out on Monday.  Several bounces off the $14 handle. Hedge funds increasing positions (with lock out until fall)

July 1

Wife is taking a vacation nap.  I monitor the markets.  SGYP has been strong and was able to hold up through broad market selling.  It made a charge end of day.  I'll go in here:

FIT:
Entry: 41.84

SHOP:
Bought the dip 31.15