Trade Journal Tuesday Feb. 17

I added to my XON position It appears that we are entering a consolidation area here (doji at the top).  A bit of consolidation should set XON for higher prices.

I caught a Huge  move in EBIX! I sold off half my position  at 25.77 as I did not expect much from this trade.

Bought some MGNX.- 35.57
 This was one I've been watching for a while It pulled back to the 10 week and consolidated nicely.  Now its ready to go It should retest its prior highs.

HPJ-- sold a 1/3 off. 5.75.  This had looked so good early running as high as 5.96.  The fade was not fun.  If HPJ does not resume towards the highs, I'm out.

JRJC: Has a breakout from a great base. Now back over 50 / 200 MAs.  Continuation please?

Bought NDRM 11.29.  I like this set up as it follows a tight range along the 10 Week.  This stock has demonstrated its power potential.  This becomes an "easy" trade as it has a clear line regarding where the position would be wrong.

Stopped out JRJC

I didn't trade this well as I got the pop and when it came in I didn't bang it out for a small gain like I did in AVNR.  I got a horrible fill on the stop so I took a 1.5R loss.

Entry: 6.25
Exit: 5.68

Again this is the type of trade that I've struggled with.  I had decent gains of over 1R. but it faded fast.  Do I pull the trigger right away or do I let it come in and hope the move continues and hope for a larger gain?

TRADE summary: AVNR, JRJC, JNUG, BITA, BABA VTAE

Today looked like it would be a very profitable day as I had some great early morning moves in JRJC and AVNR.  But then both started to fade.  Then things got shitty.  I took a position in BITA as it looked ready to pop.  It dropped.  And towards the end of the day, my  M/R JNUG traded failed (although I scaled back the position when it was slightly profitable) completed the sell off and stopped me out.  The one saving grace was that VTAE broke out big to the upside.

I sold off AVNR as it came in for now 3 days in a row after strong starts.
Entry: 12.96
Exit: 13.23
+.25R .

JRJC came in as well but I decided to hold  another day.

BABA:
I took a stab at an entry post earnings on a small position .  It didn't work  -.3R. Too bad because BABA traded up fore most of the day.



JNUG
It got a little pop in the AM but I wasn't crazy about betting on a "V" shaped recovery of gold. I used the bounce to reduce my position size.  I hoped the remainder would hold but it didn't

Entry, 4.48
Exit 1: 4.56 + 32
Exit 2: 4.00
-.7R

BITA
This looked like it was ready to make a big move.  and it did but to the downside after I bought

Entr: 83.55
Exit: 80.14
-2R

So up to this point the day was pretty much a bust.  I then got a pleasant surprise as VTAE which had not done much and nearly stopped me out on prior days went nuts late in the day.

Currently sitting at a 1.5R profit.  If there's any continuation tomorrow this will be a great trade and more than wipe out all the losers listed above.

opened: MNDO, JRJC, JNUG

There were a couple of decent MOMO burst type set ups and the gold miners put a reversal after getting pounded so I put on an m/r trade on in JNUG.

MNDO:
A break out with an earnings gap,  Good volume.  If the gap holds, this could be a runner.  Not crazy about the fade but it held up ok.  Right now its a "meh" trade.
Entry:  3.28
Stop: 3.10

JRJC
This former momo darling set up great and now put in the range expansion move.  Its trading action is what I like to see as it closed near the HOD (which I had the pleasure of buying 6.25).  If it finds some volume 7 looks to be the first target.

JNUG
I bought this as a mean reversion trade.  It had some nice action today after being destroyed over the last 2 months a range expansion after a tight dojo move can sometimes signal a bottom.  I'll stop at 4. prior day's low.

Some caution is still in order as a similar type move failed the next day in the end of September.   If it holds it could  move quickly to 8-10

Stop loss day: Closed EJ, RADA, NEO, JRJC -- Mitigated disaster.

On a day with strong selling especially in the momentum names, it was not a fun day despite having significantly cutting back on my holdings over the last week. Before today, my longest losing streak was 2.  Today I lost on 4 in a row.

So let's begin the Slaughter:

EJ, stopped out at $10.50.  I thought I was smarter than the market and this one winds up being one of my bigger losses on the year.

JRJC:
It broke out of the flag ---- to the downside.  Stopped at $7.90, exit as planned. 

RADA: I  used a mental stop at 3.30-- took my eye off  the ball and saw then saw it at 3.16, where I sold immediatly.

NEO Stop 5.55.  It gave up the breakout I gave up my shares.