April 27 Straight Cash.

I did something this morning that I haven't done in a very long time... end the day with no positions.  I closed everything out: MRGE 5(.32), MVIS 3.65, EBIX 30.08, SQNM (4.56), FEYE (44.56), KRNT (15.05), LBIO (12.15), VSLR (14.46), AXN (1.66)

I did so because I have some  things I need to take care of and also the market monitor was showing signs of red lining with the number of stocks hitting 50% gains in a month exceeding 20.

So peace out.

Remainder of weeks trades.

Closed ENZN:
Entry: 1.41
Exit 1: 1.44 (40%
Exit 2 1.81  (60%)

I had a very good battle plan on ENZN,  I bought the Fishhook setup.  Although the post market enthusiasm did not hold over the night and there was a fade.  This trade worked wonderfully.

 I did several things well.  First because this did not immediately take off, I felt it prudent to somewhat reduce my position size so that I could let the position go slightly against me without risk to my account.  The strategy worked as ENZN pulled back to the breakout point and then found a base.  In the afternoon it started ticking up. found a base and in the afternoon, it took off.  

TAKE Aways

• Cutting position size can make all the difference between staying in a trade and getting stopped out
• Plan the trade: I was not shaken on the pull back as I understood It was back testing the breakout point, that point held rather quickly and then this was range bound for several hours before exploding 
• Don't be greedy,
• I was looking for 1.95 but I saw 1.85 hold several attempts.  At that point I decided it was better to take profits than hold out for top dollar.  
• HOD was 1.86, when it breaks a .05 and can't keep going that can be the sign of a top.
• I got out .05 from the top.  I'll take that.
• Understand what you are trading. 
• ENZN was moving because Icahn has  small ownership interest and VLTC was up 1200% or something obscene. 
• While I knew that would get this motion if it fishhooked, I had no illusions that this stock is capable of pulling a move like that and here's why:
• Float size over 43 Mill
• Options (allow hedging, reducing likelihood of short squeeze) 
• The company has discontinued operations and is only making money on licensing of past drugs.  In other words, it is basically an annuity.  Not really much sex appeal.

VSLR:
Increased position size following successful back test of last weeks close.  I also like VSLR has now had a ATH weekly close.

Size added at 14.17

EBIX: This would be more consistent with a momo burst It has a pull back.  Notice how the RSI has held 50 on the pull back and popped back up.

On the weekly not quite a W1 B/o but close enough that a momo burst could take it there.  RSI is still very strong so I gave it a go.

Entry: 29.89

MVIS:
Although I got shaken out earlier with  a smaller position lower,  I am happy to buy a bigger position higher.  5 weeks after the its high its coming back that . The fact that this has popped back up says there is a lot of strength here.

Entry: 3.58

LBIO:
Similar to 3 weeks ago LBIO had a washout type move to the 12 week avg.  On both occasions they recovered immediately on the daily.

Entry 12.30

DPLO:
Took out the high for a w1 breakout out.
Entry: $34.72

APRIL 23, no trades

April 24:
There are some yellow flags forming and its prudent to take defense of measures.  I reduced some size and took some profits.

DPLO I not only got a gap on an upgrade but also a continuation move.  That said I'm not a big fan of gaps (on analyst upgrades) and as much like the weekly chart, it seems prudent to take profits.

Sold: 36.25 

KRNT:

I had previously increased my position on the 300 pt down day on this one, I was hopeful for a big rebound and a test of 16.  Although I'm up KRNT is range bound here. I need to start thinking of defense based on a few yellow flags on the over all markets.  Cutting my position size  in a thin stock is  a decent first step.

Entry: 14.69

Entry 2:  14.56

Exit: 14.85

April 15

CORT:
I haven't been overly thrilled with this one as there hasn't been much push following the 6.00 breakout.  I thought I would sell this for a small gain and raise cash rather than wait around. I think this could be a decent entry but needs a sell off first or some more sideways action.

Entry: 6.25-.28
Exit: 6.34

MVIS:
I kept hoping this would find some traction as it is on a nice monthly breakout its like a drip.   At some point you just have to call it and my stop was hit.  I'd look for a bounce at the 10Week but thats still quite a bit lower.  I tried to dip buy but on small shares and this was more like a drip so let's call it a day.

Enter: 3.57
Exit: 3.10

Bought:
NDRM pulled back today but a 6 week, b/o has still held.  I decided to wade in on this pull back although it is not my traditional breakout buy, I waded in @ 14.75.
NDRM is presenting a paper at a national conference and since the PR talked about initial positive results, its a fair assumption that the results will be positive.  From a chart perspective I like how the Weekly 4 has held the closings and the weekly 10  has held the lows.  This stock is also a low float and has shown that it what it is capable of in December.

Existing positions: LBIO, ADXS, MVIS, RAD, SUPN, VLRS,

LBIO. My buy at 11.09 off the MA bounce is looking good. It  pulled back slightly today, disappointing after an early AM run. 

ADXS:
Another dip buy that looks good in at 13.90.  The weekly breakout looks ready to make a thrust.

CAPN: A gap and drop today.  I added increasing my cost basis to 7.18.  The retraces are difficult to stomach unless you have a plan and I consciously made that decision The weekly breakout is intact and the the gap is now filled.  Now a bounce would be appreciated.

MVIS:
Holds steady. Looking for that 3.20 to hold and to re-set the stage for higher prices.

RAD:
A small move today, but I want to see the range expansion that pushes the RSI over 70.  Over 9 could start moving quickly

VLRS: After two weeks of lower prices that retested the weekly breakout point, VLRS bounced back in a big way.  This is now set up for a week 1 b.o.

SUPN:
This is looking like a back test to the BO might occur rather than the continuation but the bigger trend is defiantly up.  So the plan is to buckle up and ride it out like on VLRS.

March 19 trade journal

Bought LBIO 13.80 as it fishhooks.

Target 3 day run.


BOOT:
25.47
target 30 

MTSI:
Great weekly breakout.

Closed:

REPH:

Bought from 6.40

Sold  7.42  The mm's tagged me during a low volume period.  So I'm out but I can live with the 1.02 in 3 days. 

DFS

This hasn't quite broke down. But my options are going to start getting the theta decay kicking in.   I thought it would be better to take the small profit and avoid the decay. 

Entry .75

Exit .85

PTCT.
Breakout fails.  stopped out at 70.05
Shit

MVIS:
Took a huge run on this
2.92. 3.88 in three days.  I'm going to take the gains and  wait for this to set up again .

March 18, No changes today.

I didn't add today as I want to see how my positions weather pull backs.  So far, mostly good, nothing was stopped out and MVIS absolutely ran. 

MVIS:

Breaks to Mult-year highs today with an RSI and MACD highs as well.   The prior resistance should act as support-- enabling me to move my stops up to the 3.30-3.40 range. 

CRMD:

A bit of a pull back today but still above my buy point of 7.98.  The magic line continues to hold. 

Bigger picture looking like a 2 week rest similar to early feb. Very health as long as the range holds.

REPH:

I expected a pull back after being up 30% + in 2 days.  That said. This bounced off its lows very nicely.  Perhaps a fishhook into the week in? As long as it holds the EMA 7 this move is still very much enact.

DFS:

My short position:

DFS bounced off of its lows which looked like it was ready to completely break down.  IS this a pivot or a 1 day event.  I'm not sure. 

CYTX:

Bit of a pull back on the daily.   But stop at 1.10 still holds

Weekly range continues to tighten, when (or if) this breaks should store up some power. 

VLRS:

Held range, nothing otherwise notable.

GOGO:

Inside day following breakout, nothing notable.

AXN:

Pushed initially in the AM which was sold. Although it pulled back the breakout point(and my stop) held. One step forward .75 back has been the recent history on this move so nothing surprising. 

RMGN,

This one ran in to selling but volume was relatively light compared to the bullish days.  Hopefully there's some buying as my stop holds by just a bit. 

ARQL:

Yesterday had  a big move.  I was encouraged as this bounced pretty well off its lows and closed pretty close to the open.  Could be set up to run into the end of the week as the bear's initial attempt failed to kill off the rally was rejected.

PTCT:

This the one that surprised me the most as yesterdays breakout was completely rejected in a convincing manner.  I took a small position as I'm playing the weekly move giving me a wide stop--My stop is at 70 -- so I'm hoping this was just a one day- late selling and we'll get a bounce back but if not it's time to get out. 

ZAGG:

Goes in the nothing to see here category. Would have liked to see more follow-through. 

Opened MVIS, REPH, CYTX, CRMD, Closed AGIO

After spending the weekend focusing on refining my Big Gain Hunting scan, I've come to realize the importance of a new high on the RSI as it confirms the power behind a stock.  Knowing that a stock has more momentum behind that any time in the last 3 years makes it easier to buy when it looks like it is coming in. 

MVIS was my first target this morning.  I could see this was going to gap up. But I waited until the open it faded quick in the morning I bought at 2.92.  

Buying the fade this morning was easier that I knew MVIS was showing more RSI power than at any time in the last 3 years!  That's significant as it suggests the character of this stock is changing.  So while I could have banged this out as swing trade.  The weekly shows that there could be a lot more here. 

Entry: $2.92

REPH:
On REPH there was a nice Fishhook Breakout.  I wasn't sold on this early as there bid seemed flimsy at 6.10 and under 6.00 the pattern would fail.  But when the bid firmed up to 6.33 I hit the ask at 6.40.--and I am glad that I did as it ran and closed up a $1 from my buy point

Entry: 6.40

Why did I buy what looked like a flimsy breakout?  The weekly tells everything. RSI all time high on the breakout told me there was something more here so despite not having volume confirm and a timid breakout I went for it.  The last hour it really went.

CRMD:
CRMD has  one of the highest momentum in the entire market.  Today it pulled back and I found my Low Risk Entry.

On the Weekly, CRMD has an all time high RSI, Looking for a weekly fishhook.

On the daily:
CRMD had two bounces off the its 10 day EMA-- That will identify support and the stop for the trade while we wait for the Weekly to Breakout.

Entry: $7.98

CYTX:
Has a multi-year weekly RSI breakout.  As today's move took it over 70 on the weekly I both.

CYTX has a nice move on the daily after pulling back and reversing on Friday.

AGIO:
AGIO was a trade I had entered prior to my weekend RSI study.  I realized after studying the best performing stocks that this stock had too many flaws at this point as did my strategy for it.

Finally, I closed my AGIO position as I wasn't thrilled with the setup and trying to catch a bottom of a momo stock that's range bound can be a dangerous game.  I exit this trade with a 1% portfolio loss.

Entry: 108:15.
Exit: 105.44

The range was too wide for the size I had on and I'm not overly optimistic that this breaks to the upside when range breaks.

The Weekly RSI has sold off