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

Current positions -- weekend update

SSNI:
This one broke out very nicely.  I'll run it until it gaps.

EBIX: I bought the weekly breakout and we have a continuation week this week.  This one has had a history of some continuation moves.  I like the look of W2.

TROV:
I hit the breakout pretty well at 9.4. With a close at all time weekly highs and volume being strong I like this one for higher prices.  I'm watching the 10.27 level as being a key holding spot.  If we get that back test and a hold.  I will add to this position.

WUBA: Weekly looks good for higher prices. WUBA has now fought off many attempts to pull it back.  Was this past week a weekly breakout? still  to be determined.

GIMO:
somewhat similar to WUBA, Nice flag following a big move.  only 25Mill shares outstanding, volume shows interest and earnings were pretty good.

IPHI: A great push ahead this week.  RSI now over 70. MACD at  all time year highs

LGIH:  Weekly breakout has not yet held. But I bought on the push ahead intra-day prior high on this flag.  On the plus side has not broke down either.. sometime I just need a few extrudes.  (SSNI needed an extra day and then it really popped)

RSI is a touch low for my normal momo trading plays but I like the drivers for this company.

NDRM: Still playing the short side here. I want to see this fill the 11.75-12.50 gap.  but If it takes out 13.50 I'll close it down.

IPHI:

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.

New month, new positions, FSL, IMKTA, NOAH, IPHI, LEA

FSL announced a merger today w/ NXPI I'm looking for a merger EP that we've seen from other semiconductor stocks

IMKTA
Here was the moving I was waiting for and pounce on it I did. This was a great high volume move out of the consolidation.

46.73

IPHI,
The last time I tried this one, I took a loss.  I like set up here as it setup right off the 50MA tight consolidation and then the burst on above average volume

Entry: $19.23.
Stop $18.85

NOAH:

This one is just tightening and tightening.  I was looking for it to pop range today but that didn't happen.  I believe it will happen to the upside and I like that the range contraction allows me to take that bet with a tight stop.

Entry: 23.26

My LEA 115 March calls that I bought last week perked up with today's action as LEA has its highest close.  If I can get a continuation day things will look pretty good.

OPENED, PSXP, IPHI, ATHX, GDXJ

My stocks are running, market breadth is improving and I opened a lot of positions today.

PSXP is a fantastic weekly breakout.  This was my top prospect from the weekend and it did not disappoint as it rallied up to all time highs.
Entry: 76.40

IPHI: Volume has come on with a High volume weekly breakout. I would have liked this on a pull back, but as this week breaks higher I'll stake out an initial position.
Entry: 21.05
Stop: 19.70

ATHX:
A secondary push higher a high volume push an the end of 2011. This looks like a good risk to reward. Stop at the 6 EMA or first reversal which allows a power move to be captured.
Entry 2.23

Weekly, shows a gap to be filled If gets going 2.70+ could be on board.  PT recently raised from 7 to 9. Seems crazy to target over 400% but who knows.

GDXJ: Following a great burst over the 10Week which I caught a piece of GDXJ but sold for a small gain as caution prevails.  A back test to the 10week  holds and rallies nicely, giving the "jump back in signal" I expect Gold stocks to trade sloppily as there have been many, many false bottoms.  I'm not calling a bottom but I'll trade what I see.

Entry 27.96