June 3,

It felt like a pretty pedestrian trading day despite markets being up.

NEW Positions

Bought:  FOLD,  $12.55 premarket.

Gapped up on news, I knew where this was trading and realized that the gap would be a weekly breakout so I jumped---  Not a smart decision  because the gap got slammed.  That said, I'm encouraged because  FOLD rallied back up to day highs towards the close.

Daily:

RELY:  Recent IPOs--- I love these.
Entry: $11.71

Daily

Weekly: Obviously, has Big Gain potential.

CMCM: Looks primed and breakout point is right at target.
Entry: 33.74

CLOSED:

BOOT: This breakout failed
Entry 1 26.68
Entry 2: 26.15
added into the stop but retained stop levels.  If they had held I would be sitting pretty. they didn't

Exit 26.

LIFE:
Nice move following the breakout.
Entry: 24.90
Sold at 27.00

MYCC: -- too pedestrian without the bang this is susceptible to a big red bar.

Entry: 22.76
Exit: 23.03

June 1,

I had a good May (+5%) and am looking to build on that  as June begins. However, some caution is now in order as there are now 20 stocks up  greater than +50% in a month.  I took to reducing position size on trades and exiting some positions.


VIMC.  Right of the bat a Gap. I generally view that as a sell signal for me.  Although this ran quite a bit after I sold it then reversed and faded hard. Anyway this was worth about .80 on average for my position. No complaints.

Entry: 1 14.99
Entry 2.  14.59
Exit 1. 15.40
Exit 2. 15.61

ONTY:
Gapped on positive breast cancer data.   This was a chart That I had like this weekend as this would fishhook on a daily. In addition, the monthly has staged a high volume breakout out

This stock is capable of some power.

Entry 1: 4.38
Entry 2: 3.84
Entry 3 3.99
(Avg. $4.09.)

I'm comfortable with my position.  Although the opening bar sank, ONTY stabilized around 4.00 for most of the day.   I took piece in A.H. as this is the type of stock action that precedes a gap. I'll roll some of my position out at that time.   As the opening 15 mins are most dangerous for stops.

SSNI: Nice little trade +13%
entry: 12.00
Exit: 13.59

HDP:  I feel like I bought this one too early (although My trade is essentially a carry over from the breakout of congestion at 25.)     I had my eye on that 27 level and with another failure and without 2 rest weeks caution is in order so I'll exit.

Entry: 26.53
Exit.  26.80
Exit 26.70.  This was a "protect equity close"

BOOT:
Despite my cautious stance right now, some moves are too powerful to ignore.

Entry: 26.68

March 23, 2015 Trades

Although the weekly breakout looked good, it was not to be. Boot looked good in the a.m. rally up to 25.95, but then reversed.  I took a stop at 24.75 as the breakout point fails.  

This was a good loss.  I gave the breakout a chance and when it failed, I knew exactly where my exit would be.

Entry: 25.47 

Exit: 24.75  -2.8% (- .4% portfolio)

RMGN:
This  one got gapped against me,  but fortunately my position size was pretty small. To the point where I could wait for the bounce.  I did have a stop at 1.39, low on the move 1.40. as it bounced to day, I sold it out as I no longer have any interest in the setup. --its a complete mess on the daily, but apparent that something is going on as some volume has come in.

On a weekly,  and my reason for taking the trade was the RSI and MACD settings were hitting multi year highs.  This could setup as a rest week, and next week would be the first time a breakout trade could be attempted

Entry: 2.04

Exit: 1.56   Looks bad in % for the trade but due to the trade size only a -.45% portfolio loss.

Opened REPH:
This is one that I caught a big move last week.  IMO, REPH has now setup again and could make a similar move. There were 3 days in a row where it rejected move to break it down.  Today, it gapped down but closed up from the gap.  After it was apparent that it would not immediately breakdown, I took a position at $8.51

Mental Stop @8.10  This one is too thin to put a hard stop.  (I know from the last run where mine got taken out at a LOD)

Bigger picture, ATH  weekly RSI and MACD.

March 19 trade journal

Bought LBIO 13.80 as it fishhooks.

Target 3 day run.


BOOT:
25.47
target 30 

MTSI:
Great weekly breakout.

Closed:

REPH:

Bought from 6.40

Sold  7.42  The mm's tagged me during a low volume period.  So I'm out but I can live with the 1.02 in 3 days. 

DFS

This hasn't quite broke down. But my options are going to start getting the theta decay kicking in.   I thought it would be better to take the small profit and avoid the decay. 

Entry .75

Exit .85

PTCT.
Breakout fails.  stopped out at 70.05
Shit

MVIS:
Took a huge run on this
2.92. 3.88 in three days.  I'm going to take the gains and  wait for this to set up again .

Cleaned the Slate- closed BOOT, NLNK, PIP, RWLK,

In my opinion, the market is setting up for some downside.  I don't want to have as much exposure in positions that were not profitable or only marginally profitable.  So not a fun day but I can reset and wait for my set ups to form.

BOOT   Turned out to be a decent trade but nothing special

Entry: 18.09
Exit: 1 18.90
Exit 2: 18.64.
+.5R

Aftermath: And I prove again that I have no patience.  Although I would have had a tough time seeing all my profits disappear while it makes a secondary charged

NLNK.
After a few attempts at going higher, the bottom dropped out and I got stopped out.
Entry: $34.19
Exit $31.23
1.9R -- This one hurt as I nearly went to my loss limit.

So what went wrong?  I saw this as a pocket pivot trade from my entry.  I see now that I bought the breakout after a big red bar, which means this had not consolidated enough.  Consequently, the entire time I owned this it was still in the whipsaw phase.

Lesson learned, turn the page.

RWLK.  

Entry: 30.73
Exit 1. 28.90
Exit 2. 29.00
-1.4R


 PIP:
It finally broke its support at 1.70 and I had no choice but to sell.
Entry:
Exit: 1.68.
2.2R

This trade was never able to recover from the SIGA bankruptcy news that put the gap in . Up until that point it had traded pretty well.  I needed the court system to work faster, lol.  Didn't happen.
This was a special situation stock that I knew would have taken months had it worked, so I allowed myself a little more risk than my 2% rule.

Current Position Summary

As I've been turning over my positions pretty frequently its been a while since I've done an inventory and an assessment of my current holdings.   The market is showing some signs of tiring on the momentum front

PIP.  I have a small position in PIP.  PIP is a fundamental play. It got hit when SIGA a company that PIP beat in a lawsuit that will be worth 200+ million to PIP declared bankruptcy.  This is not a bad thing as it just stays enforcement of the judgment pending SIGA's appeal, which I do not believe is likely to succeed since it will be determined on an "any credible evidence" standard.

PIP as the largest creditor has tremendous influence in the Bankruptcy court.  The parties are currently mediating the dispute and I believe that it is likely that the parties do reach a resolution as the Delaware state judge will issue a decision any day now.  PIP would also have the ability to credit bid if it successfully defends the appeal and could wind up winning SIGA at auction.

There are risks that I could still get hit on tax loss selling.  And I am certainly cognizant of that for my own purposes.

NQ: I waited until the selling was exhausted and then bought at 7.04.  I've caught a 10% move before NW pulled back a bit today. I'll give it 1 down day but if forward progress doesn't resume tomorrow I'm protecting my profits.

RWLK: It just keeps coiling tighter.  This is going to go hard-- I just hope it goes in my direction.

NLNK:
This had looked like it was going to be the perfect pocket pivot.  The day after I bought it was even trading up premarket on volume. It then got hit with some vicious selling but held the gap and my stop.  Rallied the next then sold off.    For better or worse, I still have hoes for this position but another down day would knock me out of this position.

VIMC: new just added. BOOT: partial closed today.

Partial Close BOOT

I caught a nice move today on BOOT as it went up over 5% from my buy point.That being said, the volume was pretty anemic and it could not take out 19.  I sold off half my position at 18.90 for an .82 gain.

I plan on exiting tomorrow.  Either it makes anther push early and I'll sell it with a 19 handle or it fades and I'll take it out at $18.50

Opened, RWLK, BOOT

I opened a couple of momo burst candidates:

First RWLK
Entry: $30.73

I'm not crazy about the late fade but it held range consolidation. It could be building a base for a move to $35.  I've made one of my most profitable swing trades in this stock I know what it can do when it goes.  The burst just don't last that long so you have to be in before or right when it goes.  
Stop: 29.60

BOOT
Boot is another recent IPO.  The subsequent push on an IPO that does not initially fare well can be extremely powerful (and profitable)
Entry 18.08
Stop at the low --17.15 .6R