May 11,

The Market sold off, but breadth was positive.

Interestingly, the move retraced exactly back to the 61.8% fib line--- if you believe in that sort of thing

Despite the red markets, it turned out to be a good day for me.



I sold off My ADRO for a 9% gain on the position since Thursday.
Entry:  29.10
Exit: 31.82.
 I hate gaps in my direction as they usually kill the move.  ADRO gapped and faded so I closed it.  (2 hour chart)

GIMO 30.46,  Looks like we have a decent Flag here.  The opening move was pushed back.  But the breakout point held as well

ICLD:
$4.43  ICLD gave the fishhook buy on Friday but couldn't hold the breakout.  Today it gapped and tested the buy point and then rallied.  There's a lot of power behind this one.

BIOC @3.08  This is climbing that bottom weekly trend line.  I could see this launching from this point.  Tight stops.

WUBA  
 Bought some  75 June Calls @ $3.65.  This range is high and tight.-- can sometimes lead to massive moves.

IPHI  June 19, 22.5 Calls @$1.00
Earnings were good -- pushing IPHI to a w1 breakout.  I love that it back tested-- Should be cleared for higher prices.  I bought the calls

NDRM (Short) 12.92  added another lot to my position.
An inside day.

PTBI:
Fishhooked and it ran hard.
Entry $9.13  --- Exit $9.62  I had intended to take this overnight like my last 3 PTBI trades but this time it went parabolic into the close so I figured I'd take the money and run.

May 7: SYMX, GURE, VGGL, TROV, CYNI, ADRO, PTBI,

SYMX

Sold 1.95
bought 1.86
Stopped 1.68


GURE:
My Gure postion really broke out. Unfortunately, I did not have a ton of size on the trade.
It then started to fade.  I added on the theory it will hold its weekly support and the surge will resume.  If I'm wrong, I'll have a tight stop to the downside.  Still I get the feeling I should have been selling instead of adding.   As a faded pop, often goes lower than where it started originally.

Add Gure:
2.67,
2.58

VGGL:
Entry 2.83

Stopped 2.25 (.04 slippage)

I played  this poorly. After the initial breakout attempt failed, I should have lightened up.  Instead I held for far to long and had too much risk on this trade that was never a great set up. 

TROV:
After being stopped out early this week (May 5)   I jumped back in.  I figured if this could fight off a failed breakout and rally even harder it is going to go.  As it came in today I bought at 9.42.  Pleased to see that it rallied all the way back to 10.

CYNI:
Bought 4.62. I thought this was up due to earnings and would fishhook.  Problem is that the gap is due to a buyout by CIEN.   I'm not in the merger arbitrage trade business.  I'll exit tomorrow.

ADRO:
I nailed ADRO for a good gain off the bottom The back test has now held 2 days in a row.  I'm back in at 29.10
with a stop 27.30   I could see this getting back to the mid-30s

PTBI:
My last two A.h. gap plays worked, So I'll try it again.  As volume is not as strong the gap (if any) is not likely to be as large so I'm playing it progressively smaller.vIt actually got slammed today but the A.h. often will give relief.

Entry $7.44

May 5, Fade all day.

Not a great day with the markets as the faded all day.
4% + gainers 73   4% losers : 195

I had nearly all my stocks gap up today, although the premarket futures were down.  That's generally not a good thing. I exited 1/3 of ADRO into the Gap (which is what I should have done on all my stocks but I was focusing on ADRO)  and the remainder on a stop when it came in.

ADRO
This was a great trade for me as I made $5 on my highest sale and 3.62 on the remainder.   I had risked .40 on this trade.
Entry: 25.40
Exit 1: 30.42
Exit 2. 29.02

After ADRO, it didn't go so well.

BIOC got stopped at 2.86 - The LOD.  In retrospect I was probably to excited about the weekly breakout.  I was smart enough to size this pretty small. I should have waited for the Fishhook setup on the daily to take the weekly higher.  I'll set an alert and try again when it comes around.

MNST:
Entry 141.68
Stopped 139.03 Again filled at the LOD.   I tightened the stop here as markets were fading.  This was about playing defense.

TROV:
Another stop 8.26

IBKR:
This one was actually profitable.  But given the fades on everything else, I raised my stop as IBKR rallied and did not give it much room. I figured a small profit and cash off the board was better than risk in a marginal setup.

Entry: 34.60
Exit. 34.89

PTBI:
PTBI is this week's wild child.  Soros took a position and added to it over the last two quarters.  4.3 Mill float.  It traded 60 Million today.

My plan of attack was to buy relatively small towards the close after it came in.  Nearly every crazy train stock will gap the next  morning.  I probably was about 15 minutes early as it closed under 6.00 but sure enough, in AH back to my purchase price.  This will be a wild ride tomorrow. .. if not the remainder of the week.

Entry 6.40

May 4.

Market bounce continues, it rallied out of the gate but did not stay strong all day.  The major indices closed with respectable gains.

My Star of the day was ADRO which closed up 12.42%

NEW Positions.  With the markets working off the excess, I'm back to breakout trades.


IBKR:  34.60
Not a very exciting move given the float size but but IBKR  meets my  the setup criteria. Expectations if for a 6 -10% .

BIOC:
This was a stock That a lot of shorts had jumped on to kill. It gaped today on news and held up pretty decently as they took it down to the gap.  Note all time HIGH RSI and MACD

On daily, note RSI found support at the  50 mark and MACD held up well. I think this has the potential to surprise some stubborn shorts.

Entry: 3.15
Stop: 2.88.

GURE:
After 2 weeks of rest with a successful 20 MA test, GURE broke out today .  Still timid, but with this float

Still congested on the daily but, 2.70 could trigger.

I like my entry at 2.60

TROV:
Similar to GURE, TROV is rested and ready:  It had the back test of the last breakout now it needs the continuation.

May 1, Trading Journal

After a rough week for the markets. The bulls came out on Friday.  I took a few more positions, But my ETSY m/r trade was stopped. 

VGGL has just had a couple of power full weeks.  Its weekly RSI is now well above its 52 week. high.  

On the daily VGGL pushed above 2.80 which was my buy point. Filled at 2.83. Not happy about the fade but it filed the gap and my stop by .01.  So we will see what happens

Stop 2.55.

REPH has pulled back from 15 to the 8s now.  I bought it as mean reversion trade off the 10week / 50 day avg.   As a m/r trade I like that it has traded down 5 days in a row, is an an earshot of the 10 week, which is an are where it previously consolidated (i.e. support.)  I also like that the volume has been minimal on the pullback.

Entry: 8.90

Risk. .5%

Stop <8

MNST:

A nice powerful bounce of the 50day.  Although it closed the week down, I am still seeing this as a w1 b/o. As it pushed the breakout point.  Last week was the wrong week for it to try a breakout but Friday's move shows the interest is still there. 

Entry:

Stop: 136.5

Warning 

earnings are on the 7th, after the close. I am not a big fan of binary risk so  I am looking for the 2 move to sell into 

Weekly RSI > 70 =lotsa power. 

ETSY:

My dip buy broke range to the downside, so I'm out.

The  other IPO  I took on Thursday is looking better. 

ADRO: 

My 25.40 buy is still looking decent. I'm not in the clear on this trade by any stretch but if the bottom holds this would make up for about 5 or 6 losing trades on a run to 30.

April 30. Wading back in with some Bruised and Battered IPOS

With the market selling off my plan to go to cash had worked.  Now to wade back in.   I want the stocks that had some momo out of the gate but suffered heavy selling. IPOS often fit the bill.  Some of my most profitable trades have been the IPOs that stumbled after a big rush of enthusiasm.  ADRO and ETSY fit the bill  both are about at 50% of the first week open to close range. 

ADRO:

25.40

Stop close < 25

ETSY:
22.77
Stop Close < 22. This went below the 22 point but it rallied back and thus I was somewhat encouraged.

VLTC:
This one's a wild sonna  bitch.

Hit the first entry 9.42 trailing stop hit at 9.99
Trade 2. 11.18 Stopped 10.82 on a wicked washout.  

   I was feeling pretty good after the first one.  Second one reminds me to stay humble and stay small size on this type of stock.