June 18.

Big IWM / BIB breakout

Bio-tech booming:

And the Index everyone thought was underperforming just broke out. hmm

Another profitable day in a profitable month.  I've done a good job of cutting losers and mediocre trades.

Closed:

LIFE

Entry: 22.43

Exit: 22.60  basically breakeven as this was just never able to get going off the support line, which is not a good sign for this one. 

LAKE:

Still making post earnings adjustments and it ran my stop.

Entry: 12.30

Exit 1: 13.00

Entry 2: 12.09

Exit: 11.56  --- Although this ends up a loss.  I kept the discipline to keep it small, which can be hard  to do when you're on a winning streak.

TROV:  This is the one I'm most disappointed in, as I thought there was a good chance this would get back to the highs after bouncing off.  Instead it re-visted the support.  However, I moved my stop up and was stopped out for a  .29 gain.

When it ran to 12.70 this morning I thought it was off to the races but instead it was a fade all day:

Entry: 11.96

Exit: 12.25

A week 2 should be positive after such a great breakout.  This week was not a good sign. 

INUV: This feels like it stalled and volume has dried up.  Sure it could still go but this is not a high conviction trade for me so I'm out:

Entry: 2.97

Exit: 3.07

New positions:
DWRE: 70.26 --- great breakout RSI at levels which launched previous monster run.

Monthly:

ZIOP: Took out the weekly

But more exciting is the monthly breakout

Entry: 11.82

REPH:
Entry:  13.25

Increased size EHIC 19.96
Size Reductions: SEDG 39.43  SSNI 13.77

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. 

Tuesday & Wednesday trades

Was working on my taxes so I did not update. So I have a combined journal update.


INUV:
I had added this on Monday on a fishhook setup breakout.  Tuesday made very little progress.   And when a "power" breakout stalls, It's usually best to get out as a good breakout should continue.   So I exited for  a .03 gain on the trade.  That turned out to be a wise decision as today's action shows that I would have had considerable pain had I continued to hold

ZIOP:
The theory behind this trade was this was a power stock that was coming back into the 10 week.  I felt that had presented a good entry.  It worked temporarily but then the selling pressure overcame this one so I'll take the loss.

Entry 1: 11.68
Entry 2: 11.04
Exit: $10.75

LBIO:
Although my ZIOP 10 bounce trade did not work, LBIO worked very well.  Not only did it reverse, the move has continued into the next day. Today it pushed over 13 for period.

Entry: $11.09

CORT:
Another  b/o fail. Bought yesterday's move 5.91 looking for the b/o over 6.

The weekly chart, however, shows the the b/o would have been in week 2, which is still too early:  It is set up very nicely for a weekly range expansion next week: 

CYTX:

This one held on for a few weeks without really going anywhere.  Today it ran my stop.

CAPN:
follows range contraction with range expansion.  This is a former runner so it has the potential to really get going once it does.  d

Daily is setup for a range expansion with  for a MACD cross over  and rising RSI. 

ADXS:

This one worked exceedingly well.  After the b.o yesterday, there was a sharp reversal and backtest to the breaking point.  I held my nose and hit the buy button as this came in. 13.91 it dropped on me immediately and made a bit nervous that I would get stopped out very quickly but ADXS than found a bottom and bounced and boy did it bounce all the way back over $15.50

GBSN:
This is one of those stocks that makes everyone say wow.

Entry: 3.67
Exit 1: 4.04
Exit 2: 3.90


Entry: 4.03   (I enter looking for the EOD run, I  knew that this would have some residual power today, but  that did not come in the A.m. and this sold off quickly.   Fortunately my position size was only 2/3 of my original position. I should have dumped this lot of a small profit like I did on INUV when the breakout was stalling.

Exit: 3.73

Entry: 4.29  ( wasn't planning on day trading this but I had something come up where I couldn't be in front of the screen so I closed it. Too bad)
Exit:  4.38

SUPN:
Finally, SUPN A great 1-2-3 ("Fishhook") breakout on the weekly.
Entry: $12.49

Closed TWTR, Opened LBIO, ZIOP, INUV,

My TWTR trade did not last long as I got stopped out today filled at 49.10, which was the b.o. point.  I took a 1% hit on the trade which is fine other than I haven't had the big winners that cancels out my losers this month. 

I think a lot of the difficulty that I (and others) have had this month is that the breakout trade has gotten choppy.  In the right environment, TWTR breaks out and doesn't look back. But many breakouts this month fade and retest the breaking point.   

To overcome this problem, my recent adjustment has been to buy the power stocks off a bounce at the 10Week average. 

SLINGSHOTS:
Here's a the new setup.

 I'm looking for a weekly / monthly RSI to stretch against a pull back on the daily to the magic line.   ZIOP  had oversold stochastic on the daily and pulled back to the magic line.


ZIOP:
ZIOP bounced off the 10 Week Avg. last week.  Not that the market is giving it an "all clear"  It gapped up and faded.  I bought post-fade 11.68.

LBIO:
Nice bounce off the 10 week.  Entry $11.09

INUV:

Just a good ole; breakout off a  Fishhook set up,
Entry $2.03