July 13,

That's more like it.

VIX -- found its way back into the channel.  I wouldn't be surprised however if it made bounce on the red RSI line and tested the gap. That said momo is back in fashion.

Got the morning gap in several names I bought Friday.   FEYE, sold the gap and then re-bought the  position

Entry: 49.53
Exit: 50.75
Entry 2: 49.85

Some positive action on the RSI, but momo looks like it is slowing a bit.

FOLD:
Another morning gapper, sold off a portion in the AM and remainder on the fade.
Entry 14.46
Exit 1: 14.85
Exit 2. 14.60

NEM  short-- sold off but then bounced back.  Moved my stop to in the money and was hit.

Entry: 22.48
Exit: 22.29

GLOB:
Entry: 31.08
Exit 1: 32.42
Exit 2: 32.82

SHOP:
Entry: 30.41

EROS:
Entry: $28.58

CARA: weekly breakout. I was a little confused on this one as it lagged for much of the day, so I cut my position size.  But when it broke out past the previous day trading range

Entry: 13.15
Exit 1: 13.27
Entry 2: 13.53

Hourly

MLM--  sold as it was unable to regain strength.
Entry: 151.97
Exit: 153.37

FIT:
Entry 44.11
stopped 43.18  -- small position off the hourlies. Didn't work as this one became crowded as everyone was looking for 45.

EYEG: Lottery ticket
entry 6.70--  Signed a deal with VRX

June 12 Trades.

Another good day for momo stocks.  Although the averages suffered:

FOLD backtest and ripped:
I put in a limit order of 14.20 which was hit and the trade closed.
Entry: 12.55 (6/3)
Exit: 14.20  +13%

In addition to buying the breakout, the back test can be even more profitable and even more rapid.   Although I did not do it here, it should re-enforce my observation of the prudence of selling a burst and buying its' back test.

INUV:
The move faded to the backtest and held.  My aversion to loss stopped me out at breakeven.  Fortunately, I came to my senses and realized  that a stock that back tests and holds is very powerful and you want to be in it.   I re-bought 2.97

Summary: 
Entry: 2.83
Exit: 2.85
Entry: 2.97

MBLY:
A great thrust,  decent gains.  Decided to book the profits and wait for the back test to re-enter.
Entry: $49.47
Exit: $51.58

NLS:  
Hit the weekly breakout and couldn't push ahead.  A yellow flag and given there are so many other better plays, I decided to just close it that to wait it out. Basically a break even trade.
Entry: $21.81
Exit:  $21.93

Opened:
SEED: Fishhook breakout, I saw this was a prospect for the breakout in my Thursday scan.
Entry: 2.64

EBIX:
The front side of this breakout was one of my better trades this quarter. 31.92- $37.10   Now it has retraced to the 10 Week avg and bounced.  This is a lower Risk type of entry in a stock that is a proven winner.
Entry: 33.63

LAKE:
I took a small speculative position in this on Friday.  The RSI on a monthly has broken out and would be highest ever--well other than that  incredible surge last summer where LAKE ran to $30 in a week.

Entry: 12.30

The monthly shows that something is developing here.

ADD:
BZUN
Highest weekly close warrants adding to the position.
$12.07

Range expansion on the daily.  I like that it was able to fight off the previous pull back after the range expansion off the bottom.  This one could be a Boomer! 3.6Million shares.  That's rocket fuel. 

June 11, What a difference a day makes.

Yesterday was a frustrating day as my dip buys in EHIC were under water and I had two stocks -- FRSH, FOLD announce secondaries.  And I was down slightly despite huge pops in the average.  It's no fun seeing everyone else's train take off and your stuck at the station.   What a difference a day makes.

Today turned out to be a monster day despite some pre-market storm clouds.

I kept my head in FRSH and FOLD and did not panic as they opened lower.  Both rallied from the opening. (I did sell out a bit of FOLD @12.72.)

FRSH opened down 17.70 but then rallied.  Pocked pivot on the weekly,  I prefer the clean break but the RSI is high enough and it's close enough to cheat on the break point.

It's ability to bounce back proved its worth.  And the weekly breakout looks very much intact.

Speaking of bounce backs.   This one could be a monster.

On the downside, I got stopped out of HDP as it just could not get going.  Still no >27 close.
Entry: 27.28
Exit: 26.04

PBMD:
Just couldn't get going over past few days.  I have no interest in waiting... and the news today was just embarrassingly lame for this stock.. They got a tax credit in France.  That was worth selling this company in itself.
Entry  2.16
Exit. 2.08

INUV: This is why I buy timid breakouts.  Many times they might trigger my alert on low volume.  But  they can still get going in a fierce way later in the day.  INUV ripped from this point hitting a high of 3.22.   With the high close taken out, there should be more to come.

Entry: 2.83  

MBLY: Another one firing on all cylinders.  I do love the second run on IPOs.

Entry: 49.46.   I should have been in this $1.00 earlier  but With a weekly breakout you don't have to be as precise to make $.  This one has shown what it could do right out of the gate as an IPO.  Now for a re-rerun.

KITE:

I added to my July 65 calls  position as there was another bounce off the breakout point.  But still no upward thrust.   Tomorrow?

Finally, I'd be remiss if  I didn't post TROV ---fantastic second breakout. 

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

Closed: Fold:

Fold sold off heavy today.  So I decided to close it all down.  

Entry: 4.21  Sold  4.20  -20 loss

Short Calls.  .80  covered @.45    .25.   So about neutral overall on the spread trade.   I sold 1/3 of my position as high as 4.46 so I come out of the trade with a profit but nothing to brag about. 

Fold: partial Close

Fold came back near my entry so I took my second /13 and exited.

FOLD got a very nice bounce after that point and made up much of its ground.  I still have 1/3 of my original position left.

Perhaps this was more of a psychology saving exit for me.  It didn't come close to my stop But I didn't want to let a gain turn to a loss.  Given the option IV, the market is pricing the likelihood of a large move.  Although I believe it will be to the upside given the smart money buying, that's not a risk I want to go big on.

I have retained my last 1/3 against the Aug 5 calls.

Partial close: Fold

FOLD has continued to do anyting but.
Sold 1/3 of my position @ $4.46.  So to summarize remaining position 1/2 hedge against covered calls. 1/2 unhedged.  Will move stop up to Break Even.

Opened FOLD, GILD

FOLD comes out of my Telechart 2000 Scan.  A new software program for me.

I like how FOLD retook its high on good volume.  Biotechs have been strong and this has nice flag (Albeit a large %  (18)  given this stock price .)  In June the pull back was only 8% but the pattern is similar-- dip rally dip go.

Its a positive sign that a major biotech investment firm (perceptive advisors) has been buying in advance of the release of phase III.   They picked up 4 Million shares, which likely the big pop at the end of last month.

Long at 4.21
 STOP: 3.50  which puts just under 2R on the trade.   More than I would normally feel comfortable... But there's a But.   The August 5 Calls were bid at .80!  an amount I feel is insanely high.  IV 231% v HV of 101.  If FOLD didn't move at all it would amount to a 20% return in a month.  I sold CC's against 1/3 my position.   So even if this goes against me, I've hedged and reduced my R at risk to roughly 1.25 depending on when and how the drop and stop would occur.

GILD
Monster earnings = I chase and not much action afterwords.  GILD looked very nicely pressed against the 90 handle.  It then blew out earnings so I buy 90.80 the stock doesn't go up a zillion $ like many of the stocks that have beat latley.  FB, CMG, BIIB.  It bobbles and fades a bit.

I took this small so my  Stop  will be under 85.  1R