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 10

FRSH-- a good momo burst candidate but not quite a weekly breakout. 

Entry 18.59

Also don't like the secondary announced after close. 

NLS:
21.81

HDP:
Back in as it took out the prior breakout week high needs to close above weekly b/o

Entry:
27.27

Closed:
I did not love my entry into this one and the inability to push higher has started to concern me.  There are better places.

Entry
35.78
Exit. 36

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

May 30, New breakouts

UEC
Closed:
Entry: 2.90
Exit 2.93

I didn't trust the move in these type of stocks so as it did not break 3.00 I sold as it came in.

ANTH:
another one that faded a bid so I banged it out.
Entry5.28
Exit, 5.34

I did not this to go red on me so I  bailed.

VIMC:
Weekly breakout  at $14.01
Entires, $14.59, $14.99

MYCC:
22.76

HDP:
26.53

A couple of back test following the move.  

May 22, closed PANL, BLDR, HDP, Opened, FEYE, YINN, AAOI

PANL

The volume completely dried up in PANL,  For that reason (and only for that reason) I determined that I needed to get out.   As volume dries up, spreads get wider which makes this a dangerous trade.  I saw that there was enough size on the bid for me to exit my position, so I took it, and a small loss. I sized this trade small because I saw this as a risk.  If I'm honest with myself, I should never have taken the trade.

Entry: 3.83

Exit: 3.61

 

HDP,

I caught a very nice move here. 

Entry: 24.97

Exit. 26.49. 

I exited as this was not a true week 1 breakout.  I'd expect a pull back, which I will look to reenter.  In the mean time, I'll lock some profits to set a floor on my equity curve.

BLDR:

Stopped out. Disappointed as  I had decent hopes for this one but it never got going and then it faded.  Sell, Re-set the alert: A lot of tails on the upside candles.  This decided it was not ready to go yet.  So I'll get out and set an alert to see if it might make another attempt. 

Entry:  $13.32

Exit: $12.71

On the daily, that's when got me in, and the thumbs down got me out.

New Buys:

FEYE:

45.14,  I wasn't fast enough on my order at 44.40s so I was forced to let it run. When it came back in that's when I took the position.  The downside of paying up is that I had to reduce my position size. 

Just shy of a weekly weekly breakout on the edge of the "cup" but still a multi-week breakout.

More importantly,  we triggered a breakout on the monthly:

AAOI

Entry: 16.70

Monthly breakout:

And on the weekly:

China Bulls

Chinese efts had broken range to the upside, HAO, ASHR, FXI, YINN

ASHR: beautiful breakout.   China is ready to rip higher Choose your instrument.  

YINN:

62.26

I went with YINN because YINN is the 3x Chinese bull etf.  Although it is still within its range,  I took it because the other ETFs have broken out and well, look at the power on the last breakout 40 to 64 in 3 weeks.

Although U.S. Markets are closed, China is not and is surging to a 3% gain. Boom! 

May 19-21

I've been dilatory in my Journal. Anyway here's the update.

May 19 --21

AMCN
Gapped down on earnings and then rallied from that point.  I didn't trust the move so I figured it was best to just get out.

Exit 1: 5.47
Exit 2. 5.49  too bad this one would run.

BLDR
Bought: 13.32  got in and then the fade.  Still holding the flag.  I'll see how this plays out.

TNP
Entry: 9.75

Weekly:
Broke range:

GIMO:
Great move  but its time to start playing it safe
Exit 1: 32.30
Exit 2. 31.97

PTBI:
I decided to let this run rather than pop it off at the morning gap.  Glad I did:
Exit 1: 10.61
Exit 2: 9.85  (let it come in too much on the remainder still a decent profit)

BONA:   This one went about as well as as a 2 day trade can go:
Nailed the breakout  added on the way up and phased out.
Entry 1: 10.59
Entry 2: 10.82
Exit 1: 11.89
Exit: 12.06

EBIX:
A fantastic weekly breakout
Entry: 31.91
Exit  1: 36.46
Exit 2: 37.10

ERI
Entry $8.24 this stock has shown some explosive potential but hasn't really took off after last weeks earnings breakout.

PBTI-- Again into the close play for the gap:
Entry: 9.53
Exit: 9.95

HDP: Some great power coming from earnings.  Looking to burst to weekly high
Entry: $24.97

TANH:
Another IPO trade.  looking for a burst.  Not thrilled about that it was unable to hold its week one.

Entry 14.66
Entry 2: 13.64

TROV: Closed
This is the breakout that started the run.  I should have sold a portion into the second week burst.  Anyway I got stopped out here for a decent profit.
Entry: $ 9.42
Exit: 10.35  9.87% gain.

AMCN: Short
So I decide to get cute and Short AMCN as it looked like it was breaking down.
Didn't work at all as I short near the bottom and then it rallies and takes me out.  Fortunately, I didn't put much size on but this is not my trade. This is not my setup.

Entry: 5.82
Exit:  9.34

IPHI: Closed calls,
Entry 1,
Exit 1.75   The problem was I should have gotten out over 2.20 but there was no liquidity and widespread.  The down fall of options.  Yes, I am complaining about making 75% in a week and a half.

NDRM:
Again I pay for trying to squeeze more out of a trade than was there.  This should have been a decently profitable trade but I wanted more and I take a .96 loss.  That was .20 of slippage.

Entry: 13 (short)
Stopped 13.96

Life:
A very thin wide spread bio tech -- turns out it was pretty profitable
Entry: 22.95
Exit 1:  25.34  -- Smart selling off half on the thrust.
Exit 2 23.92
 (I'm pissed that I missed the super spike. I had an order trying to get out after it hit 27.80 but the bids fell away pretty quickly)   Should have been the sign to take what I could get.   Closed at the end of the day for about $1.00 on the second half.

PBMD: So many traders had their hard luck story with this one.  I did too. I took it over night with the thought it would bounce pre-market like PBTI had done on the 6 times I successfully took that trade.

This one when the opposite.  Rather than being sold out.  I was down 30%.  That's why I don't take big positions on these types of trades but still the day 1 trade is always a widow maker.  Even still, this was under my 2% threshold for losses.  That said, I won't be doing that again.

Not the gap I hoped for:
Entry 1: 5.62
Entry 2: 4.32 (small)
Exit: 3.94  

VLTC: went green to red after it bounced off the 10 week MA. With the speed it was appreciated I assumed there was some news.   There was a rumor that Ichan increased his position.   I didn't buy the rumor (actually i did)  because no news outlets were reporting. Although this spiked from my buy point, i decided to close it out for a small gain.  (A good decision it turns out)

Entry: 8.34
Exit: 8.45

Closed TNP,  small gain. This felt lethargic:
I would rather preserve my capital and miss out than to try to squeeze too much out and take a loss. See NDRM