INVN: Swimming with gators.

This was stupid.  I bet on a reversal of a strong down move.  I survived buying 500 at 17.80 which I traded out of for $140 gain.   The risk to reward wasn't great on this trade.  I pushed out of the entire position because I didn't want to hold it into the weekend.  

Triage:  I think I was pissed at myself for letting this turn from a profit to a loss earlier this week and I wanted my money back.   This was an impulse trade (The elder impulse system would expressly would forbid it), and I should not have taken the trade.  That being said, I made money but I cannot count this as a good trade because I broke my entry rules.  I was in for 1% R which very nearly got hit. Again,too much for this type of "falling knife" trade.

 

CORN: Shucks

And I closed most of my short. and then limit up today: Stopped out on the last portion for .58 gain.

I re entered the position short on 200 shares at 38.84 with a stop at the day's high.  I'm less confident in this move now after such a strong move reversal.  I'll look to take profits quick.

CORN: Taking some Profits

With INVN and WFM fresh in my mind, I figured I needed to take some profits before another winning trade turns into a loss.  This has been crushed. I bought  300 of my 400 shares back in at  37.97 for a $678 profit.  Still holding another $264.50 of gains.  I'm moving the stop on that to $38.84, to preserve gains.

On a weekly it could fall a lot farther if it doesn't find some support soon:

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. 

NEW ORDER: AMGN

I'm liking this chart.   A nice flag after a trend.  I have a buy stop  at 68.10 which is just above the recent high.  I think this could make a move if it gets in action.  And I'm buying at the 26 EMA 

INVN, shakout

The MMs jumped right over my stop and sank the stock.  It rallied after hitting the 26 ema, which also marks the highs from the past rally.  I added another 100 at 19.67


Update:  So that didn't work well.  They sank this one and I'm out for a loss at 18.90.  loss of $258 on the position, which sucks after being up over 2 points.  

Lesson: I don't mind the loss on adding at the 26 ema. I do mind that my initial stop didn't get filled.  More attention to the type of order in fast moving stocks is necessary!

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.