Closed MNDO

Took a shot as a swing trade on a momo burst setup.  I'm not generally crazy about the gap out of this setup but it had some decent earning related news. Unfortunately  MNDO  never really pushed ahead enough to book profits it faded I wind up with a small loss:

Entry 3.28
Exit. 3.10

TRADE summary: AVNR, JRJC, JNUG, BITA, BABA VTAE

Today looked like it would be a very profitable day as I had some great early morning moves in JRJC and AVNR.  But then both started to fade.  Then things got shitty.  I took a position in BITA as it looked ready to pop.  It dropped.  And towards the end of the day, my  M/R JNUG traded failed (although I scaled back the position when it was slightly profitable) completed the sell off and stopped me out.  The one saving grace was that VTAE broke out big to the upside.

I sold off AVNR as it came in for now 3 days in a row after strong starts.
Entry: 12.96
Exit: 13.23
+.25R .

JRJC came in as well but I decided to hold  another day.

BABA:
I took a stab at an entry post earnings on a small position .  It didn't work  -.3R. Too bad because BABA traded up fore most of the day.



JNUG
It got a little pop in the AM but I wasn't crazy about betting on a "V" shaped recovery of gold. I used the bounce to reduce my position size.  I hoped the remainder would hold but it didn't

Entry, 4.48
Exit 1: 4.56 + 32
Exit 2: 4.00
-.7R

BITA
This looked like it was ready to make a big move.  and it did but to the downside after I bought

Entr: 83.55
Exit: 80.14
-2R

So up to this point the day was pretty much a bust.  I then got a pleasant surprise as VTAE which had not done much and nearly stopped me out on prior days went nuts late in the day.

Currently sitting at a 1.5R profit.  If there's any continuation tomorrow this will be a great trade and more than wipe out all the losers listed above.

Oct 28 trades: ACHN, CYBR, LOCO, HIVE

So I just closed RWLK for my biggest gain of the month and decided to engage in some marginal decision making .

First, ACHN-- not a bad set up and this is a trade with risk management that I would take all day long.
This looked ready for a Breakout but subsequently faded.
Entry: 12.50
Exit: 12.13
-.7R.
I suppose I could have gotten in earlier and trailed this but I was hoping for a multi-day momo burst. Had I looked closer I'd have realized how rare those types of moves are in this stock. More often than not ACHN is a one and done type of stock.

CYBR
So I just made a bundle in RWLK so go back over to CYBR which often trades similar to RWLK.
While this looked promising for a multi-day move it was not to be.  I protected my capital and escaped the fade with a small profit.
Entry: 35.89
Exit: 36.03 --- Obviously a great decision to get out in retrospect as this came in hard.

LOCO
I was on an recent IPO kick so why not go for the Crazy Chicken. LOCO had a great sideways consolidation period and then the b/o
Entry: 36.17
Exit: 36.55
I wasn't feeling especially after CYBR and ACHN faded.  Enter capital preservation mode.

HIVE:
Then I decided to something real dumb.  I chased a momo news play (apparently they signed some deal with apple).   I put on too much size, kept a tight stop got hit lost 1.2R

Enter: 6.36
Exit: 5.96

opened: MNDO, JRJC, JNUG

There were a couple of decent MOMO burst type set ups and the gold miners put a reversal after getting pounded so I put on an m/r trade on in JNUG.

MNDO:
A break out with an earnings gap,  Good volume.  If the gap holds, this could be a runner.  Not crazy about the fade but it held up ok.  Right now its a "meh" trade.
Entry:  3.28
Stop: 3.10

JRJC
This former momo darling set up great and now put in the range expansion move.  Its trading action is what I like to see as it closed near the HOD (which I had the pleasure of buying 6.25).  If it finds some volume 7 looks to be the first target.

JNUG
I bought this as a mean reversion trade.  It had some nice action today after being destroyed over the last 2 months a range expansion after a tight dojo move can sometimes signal a bottom.  I'll stop at 4. prior day's low.

Some caution is still in order as a similar type move failed the next day in the end of September.   If it holds it could  move quickly to 8-10

Closed: TUBE, YOD, Day trade BABA

Today was kind of a a "meh day."  I didn't get much traction on anything.  I closed 3 positions for a total of 1R profit.

First Tube.   This was just a disappointing trade as it had potential but faded once it looked it would gain traction.  I really dislike b/o faders.  So I banged it out.  This needs to set up as a flag again and I would bet that it is going to take 15-20 days before it is ready to breakout.

Trade Summary
Entry: 15.09
Exit: 15.43
+ .26R

My entry was relatively poor in this stock as an entry at 14.80 should have been had.  But what ever, this is what it is.

YOD:
On the Short side my fade of YOD played out perfectly.  I bought it in as the volume started to dry up.  I had set a buy order at 1.86 last night--turned out to be the LOD.  That being said, so did some other traders and I didn't get filled there I got filled.  I banged it out at $1.94

Entry: 2.19 avg
Exit: 1.94
.58R

This one worked out well.  No need to be a hero or wait for another .20.

BABA:
Baba set up for a nice breakout. 101.20.  It made a nice run after word hitting a high of 102.80.  I am very adverse to b/o fades and I hate taking a loss after I'm up over a pt in a stock so I moved my stop to 101.75.  Although that held for most of the day a late day plunge took me out -- filled at 101.77
Trade summary
Entry 101.20
Exit: 101.77
.18R  BABA then decided to surge on A.H. trading as traders wanted to get in before earnings.  I thought I saw a 105 print which would have been good for at least 3R from my entry.  Oh well--protect capital first.

Closed AVNR, Opened AVNR

AVNR was interesting it gapped so I moved my stop up into the money at 13.19 so I would take  a small gain if stopped. The gap faded so I took  my small gain.  AVNR then sold off hard but ultimately held the B/o level so I  bought at 12.96 as it bounced.  I still very much like this chart pattern.  It is similar to AGIO which exploded out of the base.  The fact that AVNR held the prior days gains and closed stronger is a good sign.

Opened YOD short

YOD got a fantastic pop on rumors that BABA was interested in purchasing it via "unconfirmed market chatter." As with most stocks that pop due to buyout rumors  I have little doubt that YOD will fade completely.

I've have a very good handle on YOD.  I have traded this stock a number of times during the past year and recognize the absurdity of such a rumor.  In addition to YOD's wide spread insider dilution via warrant exercise the economics of a YOD / Baba deal simply do not make sense. BABA already owns 16% of yoku and just launched as a new platform to market YOKU's videos.  So what would buy an American company with non-exclusive licenses to compete with its partner?  That won't happen.  Despite what the pumpers on twitter were saying.

Eventually the momo traders came to their senses and started to fade this stock. Enter my short opportunity:

Entry 1: 2.39
Entry 2:  209
Avg. 2.19

Risk: 1.5R

A very long wick on that daily candle which suggests that this will not be a multi-day pop. This was  a 1 and done type move, imo.  Given the speed and volume on the  sell off I increased my position by 2/3 going into the close. 

Under normal circumstances,  I would target 1.85-1.95 range and I'll probably partially cover in that range.  I suspect, however, that due to the volume there will be some new bag holders that are now trapped.  I very much doubt anyone bought this as a long term hold as the fundamentals are unproven and have underperformed for years.

2 years ago Analyst forecasted revs of over 20 mill-- not even close, Last year $15  mill. nope.  Early this year $9 mill.  The company now says $3 mill.  As pathetic is that is for a company that claims as an 11 million viewer market, the company has earned less than 200k in both Q1 and Q2.   I'll  target 1.65- 1.55 within a few days as rally attempts fail When the reason for the buying spree has evaporated, stocks tend to over-adjust the other way so this has the potential to go even lower near term.