Closed WFM. small loss taken.

The WFM breakout never got going. So what? Many breakouts fail. I kept the stopped out on the 6MA, kept the loss small and the overhead low.

Entry 49.08
Exit: 48.40 -.03R

Although this lost money, this was a fantastic trade. My price alert was hi, so t I bought. My stop was hit, and  I sold.  The position was sized appropriately so my loss was small if the trade didn't work.  If if it did, I would have taken advantage.

 It is the trades I lose will determine my ultimate success as a trader.

Current position summary : WAB, VTAE, AVNR, WFM

Shorts:
I'm thinking that high volume reversal was significant. Today, it got a 2% move which is a range expansion for this company.   I see that as a great short set up because of the bearish divergence near a 52 week high--meaning this stock is not likely to run hard against me.  I can keep a tight stop and look for a 10% plus sell off.

LONGS:
VTAE:
I bought the range expansion 3 days ago and then added at 19.  This one has the look of something ready to really have some fun.

AVNR:
In at  14.40.  Very pleased that it shook of a CLR FDA letter today. Less pleased that it re-reversed.  Although many biotech's had reversal moves today.  I'll just keep moving the stop up and we'll see what it can do.

WFM:
Bought the breakout today.  Nice consolidate. And now the initial stages of a momentum burst move?  Volume was decent for a 1/2 trading day.

Opened WFM

WFM has set up nicely after making breakaway.  It now looks ready to go higher.  I bought at 49.08

Stop at 48.35

Goldman Giveth and Goldman Taketh

Goldman Sach's upgrade of LNKD gave me one of my best trades on the month.    

Today, it downgraded WFM:

I was stopped out at 82.28 for a $275 loss.  This trade had been working extremely well as I bought of the low but then Goldman Sachs down graded the stock, causing it to gap down.  It appeared to bounce at 82.26.  (yea basically I got the worst entry and the worst exit)   I wanted to bang out the stock at the open but I wasn't in front of a screen.  

Trade Summary:  Shit happens!   This had been working and moving up in an orderly manner.  I would have faulted myself if I didn't sell a portion after a big move but that didn't happen here.  I kept the stop and damage to a minimum. 

One of those days

REE moved with the other Rare earths.  Huge volume but again  it couldn't close over the 6.50.  I sold another Apr 6. put for .35, to generate some cash.  If it falls below 6, It will effectively let me purchase my short stock back at 5.65.

INVN:  As I noted yesterday, there was a good chance of it making a pull back as reflected by the doji candle and close below the open.  It pulled back today hard.  5.03%.  That's the problem with Momo stocks.  I should have considered selling into the big move.  Anyway, my stop is still in place and the 10 EMA  has held.   Over the past month that EMA has been the  floor of this stock.

WFM:
A Small pull back after a big reversal move.  No worries yet.

CORN:  Today wasn't all bad.  My Corn short, which is my largest position kept falling and closed at the low.  It took out the bottom at looks to fall to at least $38.5 before next support level.

Since CORN tracks the commodity, the chart of the actual Corn futures also closed at a low.  But is more in the range of support than the ETF.  I like that the Force and the MACD are dropping like stones.  I would have liked greater volume.

BA:  This is becoming a long term short as it won't break out to stop me out.   There is huge divergence and despite Market in Rally mode, BA has been stuck.  EMAs are flat.   Eventually, it has to go one way or the other.

New Position: WFM

I like the pattern of what has happened once this pulls back between the 13 and the 26 emas.    I have some hesitation that the impulse is still red but because the stock has rallied after hitting the 26 and is now at  a high of the day, I'm going to take a small position with a stop at today's low.

Bought the days high so a 0.0% entry grade.  But, this is a bet that the trend continues and I needed to see a bounce.  So I would have rather bought the high after a bounce than the low and hope for a bounce.