Closed KNDI + 8% 1 day

KNDI has been an extended downtrend.  But then broke out of that down trend on heavy volume.  The next day It pulled back and then started to go back up.  I used a type of  fishhook entry here w/ a stop at LOD.   I was disappointed with the close on Day 1.  As it closed close to my stop.

Things got interesting on Day 2.  For most of the day it sat around going nothing nearly stopping me out but I survived and the volume came in hard.  I sold into strength and took a .8 gain on the trade.

Entry: 13.63
Exit 1 14.74
Exit 2  14.49
Total    .8R

Summary

I'm very pleased with this one. I felt I had about a 60-70% chance of getting stopped out.  It just goes to show that sometimes the trade you expect the least from can do very well.  The exit was not smooth as it started fading quickly.  I tried to unload the entire position at 14.74 but got a partial fill.  Rather than wait for a rebound I chased it down with my sell order.

Opened KNDI land

KNDI  is a fad type stock that has had a a tough time as of late. That may be looking to change as I believe this setup provides a low risk entry.  Notably, KNDI retook its 10 MA on high volume  it then checked down, which is what I would look for in a fishhook setup but faded a bit late.   Not thrilled about the close but if Thursday's momentum returns I will have snagged a nice entry. 

Entry: 13.64

stop: 13.20

Another mean reversion trade.

Market Sell off continues. Profit taking.

As I expected, the relief rally failed.

Both of my recent shorts, P and KNDI hit my profit targets and I closed both positions. On KNDI my Target was 12.  Half the position was covered at 11.88.  The second half  remainder was covered at 12.70 after the 9EMA was touched-- it was my stop following the move down and it tracked very well. But if I used a 10 EMA I would still be in.   This one is probably headed lower

P, Took out a very nice profit in one day.  There was more down side left but ... I suppose I was too quick on the trigger.  But after +2.22 move the profit was too good to pass up.  No regrets.

New Positions -- Short P, KNDI

Based on my belief that the market is in the midst of short term relief rally, my plan was to initiate some short positions as the market bounces.  I took two additional positions.

Pandora $P, Short 28.87  --- Heavy down that appears to sill have some momentum, a bounce on support at 26 followed by two bullish days rallied to the 9 ema which has tracked the down move pretty well.  Initial Target 26.  Stop at 31,  risking about 1%

KNDI  Short 14.04-- Showed very poor relative strength .04 and the MACD is picking up downside momentum.  Stop 15.90 --high from three days ago.  Risk 1.25%