Sept 14 Trade Journal

Entered GMCR 60.07 as we get bearish range expansion following uptrend..  If we get follow through tomorrow, I think this could drop to the 40s.   

USE close of 9 hourly EMA to trail

GWR: Short  - -Nice move today Short in 61.60s  -- tight stop and bulls are getting tired -- nice close on the low.

Hourly --- bearish rang expansion pierced through consolidation area then did it again this morning.

VTAE: Fishhook breakout 

Averaged into a 15.13 position as the 15 breakout held

XIV: 

added anotheto the position.  Contango is now only (-3% still backwardization but this is the VXX short is the greatest trade.   

If this were not a mean reverting instrument there is no way I would take this trade with the size I am now up to. 

June 22 trades and position summary

FEYE: This was a fantastic run from the breakout point but the channel broke.

Entry $44.85

Exit $51.77

Big picture: Still likely "in play" wait for 2 weeks of rest--  would not be surprised for a '10 test.

CORT:

Entry 7.19

Exit 1/3 7.37  I came in a little heavy on the range expansion move so I cut the position into the run.

RXDX: This one was not fun. 

Entry: 17.19

Entry 2: 16.69

Exit: 16.16

Exit 2: 15.98

Later in the day, this move became clear that it was a back test to the '4 week. when that held, I re-bought

Entry: 16.33

SEDG: Since I sold the pop last Friday, I have room to take a shot if the 4 holds.
Entry: 39.29

VTAE: Nice move last week to breakout on the weekly. Look to hold the line on the close.
Entry: 16.73

Current positions:
SSNI: star of the day

ZIOP, fought off a downgrade and $10pt to close at the high.

EHIC: Just keeps narrowing the range-- should be good to store up some power-- needs a close above the zone.

BZUN: still range bound

DWRE:  held the breakout, positive action here.

EBIX: Did I nail the dip buy off the '10 - yet to be determined has held thus far.

HZNP:
After chopping the weak breakout players to bits over the last 2 days.  should be ready to go.

closed VTAE

I got a great entry on this stock and could have landed a great move but I let a lot of  profit it get away in hopes that this would set up again.  I've reduced my position over the past few days and today closed it out.  This stock is thinner than Kate Moss and I do not want to hold a lot of shares in this type of stock that can have wide spreads if it falls farther and hope that it finds support.

Entry 1: 17.44 

Entry 2: 19 

Entry 3:  18.31 

Exit 1 18.72

Exit 2  18.95 

Exit 3:  18.12

On the whole this turned out decent about 1R.  But I let too much go back to Mr. Market as this had gone over 21. 

Current position summary : WAB, VTAE, AVNR, WFM

Shorts:
I'm thinking that high volume reversal was significant. Today, it got a 2% move which is a range expansion for this company.   I see that as a great short set up because of the bearish divergence near a 52 week high--meaning this stock is not likely to run hard against me.  I can keep a tight stop and look for a 10% plus sell off.

LONGS:
VTAE:
I bought the range expansion 3 days ago and then added at 19.  This one has the look of something ready to really have some fun.

AVNR:
In at  14.40.  Very pleased that it shook of a CLR FDA letter today. Less pleased that it re-reversed.  Although many biotech's had reversal moves today.  I'll just keep moving the stop up and we'll see what it can do.

WFM:
Bought the breakout today.  Nice consolidate. And now the initial stages of a momentum burst move?  Volume was decent for a 1/2 trading day.

Opened VTAE

After hitting a 20% + swing in VTAE earlier last month, I go back into VTAE for Continuation Anticipation type trade.  The volatility has been squeezed right out of this stock and there were a number of very tight ranged days sitting like ducks in a row.  This is a low low risk set ups as stops can be placed tight.  This type of setup can produce very power bursts. Indeed, I've already caught one in this stock.

Entry: 17.48

Stop: 16.50

I did not trade this with the size that I might otherwise have due to the number of positions I have open right now.  If I close some positions, I very well add on this one. 

Closed VTAE + 22%

I closed VTAE out this afternoon. psychologically this was not an easy trade for me as I let a 1.5R trade go negative.  It held and went much higher.  I closed it out firmly in the win column. 

Entry: 13.69 (+2.99 21.8%)

Exit 1: 16.74  (+3.05; 22.3%)   

Exit 2:  16.68 

+2.5R

In a thinly traded stock like VTAE, profits can dissipate (or be made) very quickly. I sold because it started to fade and I hate giving profits back.  

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 TUBE VTAE AVNR

A busy day as there were a number of setups I really liked.

Tube
A recent IPO that has had an orderly pul l back and a great breakout.  Now it appears that the back test was successful and when selling looked to be ending I took a position as it went positive
Entry $15.09

VTAE
A recent IPO that has shown some power. After checking down and retesting it went higher. This one has good potential.
Entry:
$13.70 ,  I bought higher that I would like. For that reason I didn't put a lot of size on .  I still think it makes a run towards 17 and for that reason I was willing to pay up for it.

AVNR

This is the move I was waiting for out of this pattern.  A great Bull Flag that was wrapping around higher like AGIO did before it burst out.  In at 13.01