Open Positions Summary.

RESN:
After a major breakout move, RESN has a consolidation week.   I'l look for last week's lows to hold an perhaps another push forward.

CARA:
A nice three week consolidation followed by a breakout, It retested the 10s and held.  Now, I want to see a close above $11, which has presented some trouble for  CARA this past week.  If it gets going this could be a monster.  A relatively small float + IPO neglect, + exciting new drugs.

MOMO:

After a solid rejection, MOMO has consolidated. I believe this has a lot of ingredients to power ahead but this will be a make or break week. The consolidation should break one way or the other.... TBD.

Opened ISIS, MOMO

I bought ISIS at 68.76 as ISIS broke out of a consolidation area.  This was loose range and does not present a tight stop but I think it's a go nonetheless  Biotechs have the momo and this setup works.

The Weeklies show that after a 2 week pull back this wants to go higher:

MOMO, is another recent IPO that I've traded this year.  I avoided the pull back previously selling over $13 Which I did to lock in gains and to reduce exposure. Now that It consolidates and the market is showing buyers start to return I want another go at it.

CLOSED IDRA, MOMO, ONNN, MARK

Market tide is turning, felt its better to play some decent.  Took profits on a couple, cut losses short on   a few others.

Winners
IDRA
from 4.34
Exit. 4.92.
Nice winner.  But I'm not going to push this more than this.

MOMO
I caught a nice little swing here but thought it best to lock profits in as there was a fade.
Entry: 12.19
Exit 13.01

I took small losses in MARK and ONNN
Mark had no continuation and gave back its entire high volume move.
Out at 4.85

ONNN
out at 10.01  This had some nice consolidation but It looks like it is breaking to the downside. So rather than wait for ONNN to break down more, I'm out.

Exit: 13.01

Opened MOMO, ONNN

ONNN bought nice consolidation here

Entry: 10.24

MOMO:
A recent IPO that picked the wrong moment to go public.  A higher low.
Float: 8million
Momo already grew its user base 160% from a year ago.
THEME- Social networks in China, Chinese Tinder
 backed by BABA (owns 20%) and WUBA owns a stake.

And a ticker symbol guaranteed to get the Momo players looking at it.
That can be the recipe for a power move.
Entry: 12.19

Opened Short SA

SA broke out of consolidation to the downside. I entered a short position at $7.75 . This is essentially a mono burst setup to the short side.  What I like about it is that the 10MA held... The 10 has tracked the move both to the upside and the down side really well.  based on prior history a multi-week 15-20% move is possible if not likely.

Entry: 7.75

Stop: 8.07

Target 6.75- 7.05

NEO update.

 I opened NEO on Wednesday.  It looks ready for more action as it closed towards its high after reversing.  I believe that it is still in play but it has taken a bit longer to develop. This would be more of the types of setup I normally would trade -- extended consolidation with a momentum burst.  

Opened NEO

NEO is a momentum breakout trade where we look for 3-5 days of continuation.
Entry:  $5.99
Stop: $5.55

New position: VIP

Today I bought VIP at 8.95, Stop at days low. $8.46.  Just over .5R VIP has a decent setup but the market shows some signs of tiring as the small caps are not keeping up with the Mega companies.

VIP comping off a bottom  somewhat of a inverse H&S chart set up.  Better than average volume from range bound trading and closed near the HOD.  Looking for follow through but will play it tight.

 I have no grand visions of glory for this stock but these are the types that can sometimes surprise you.  I'll fade out a portion over the next 3 days assuming continuation and with the remainder of the position, we'll see what happens. Although it was not my basis for taking the trade there is a fundamental driver, in that there is news of  renewed merger talks, per Bloomberg:

VimpelCom gained after people familiar with the matter said the company has restarted discussions to combine its wireless operations in Italy with Hutchison Whampoa Ltd. (13)

“The merger would strengthen VimpelCom’s finances, and traders assume it will go through this time,” Ksenia Arutyunova, an analyst at Rye, Man & Gor Securities, said by phone from Moscow yesterday. “Fewer players means less competition, which in turn may result in higher prices and more revenue for the local cell phone companies. It may be the beginning of a turnaround for VimpelCom in Italy.”

INVN, shakout

The MMs jumped right over my stop and sank the stock.  It rallied after hitting the 26 ema, which also marks the highs from the past rally.  I added another 100 at 19.67


Update:  So that didn't work well.  They sank this one and I'm out for a loss at 18.90.  loss of $258 on the position, which sucks after being up over 2 points.  

Lesson: I don't mind the loss on adding at the 26 ema. I do mind that my initial stop didn't get filled.  More attention to the type of order in fast moving stocks is necessary!