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.

June 18.

Big IWM / BIB breakout

Bio-tech booming:

And the Index everyone thought was underperforming just broke out. hmm

Another profitable day in a profitable month.  I've done a good job of cutting losers and mediocre trades.

Closed:

LIFE

Entry: 22.43

Exit: 22.60  basically breakeven as this was just never able to get going off the support line, which is not a good sign for this one. 

LAKE:

Still making post earnings adjustments and it ran my stop.

Entry: 12.30

Exit 1: 13.00

Entry 2: 12.09

Exit: 11.56  --- Although this ends up a loss.  I kept the discipline to keep it small, which can be hard  to do when you're on a winning streak.

TROV:  This is the one I'm most disappointed in, as I thought there was a good chance this would get back to the highs after bouncing off.  Instead it re-visted the support.  However, I moved my stop up and was stopped out for a  .29 gain.

When it ran to 12.70 this morning I thought it was off to the races but instead it was a fade all day:

Entry: 11.96

Exit: 12.25

A week 2 should be positive after such a great breakout.  This week was not a good sign. 

INUV: This feels like it stalled and volume has dried up.  Sure it could still go but this is not a high conviction trade for me so I'm out:

Entry: 2.97

Exit: 3.07

New positions:
DWRE: 70.26 --- great breakout RSI at levels which launched previous monster run.

Monthly:

ZIOP: Took out the weekly

But more exciting is the monthly breakout

Entry: 11.82

REPH:
Entry:  13.25

Increased size EHIC 19.96
Size Reductions: SEDG 39.43  SSNI 13.77

Tuesday & Wednesday trades

Was working on my taxes so I did not update. So I have a combined journal update.


INUV:
I had added this on Monday on a fishhook setup breakout.  Tuesday made very little progress.   And when a "power" breakout stalls, It's usually best to get out as a good breakout should continue.   So I exited for  a .03 gain on the trade.  That turned out to be a wise decision as today's action shows that I would have had considerable pain had I continued to hold

ZIOP:
The theory behind this trade was this was a power stock that was coming back into the 10 week.  I felt that had presented a good entry.  It worked temporarily but then the selling pressure overcame this one so I'll take the loss.

Entry 1: 11.68
Entry 2: 11.04
Exit: $10.75

LBIO:
Although my ZIOP 10 bounce trade did not work, LBIO worked very well.  Not only did it reverse, the move has continued into the next day. Today it pushed over 13 for period.

Entry: $11.09

CORT:
Another  b/o fail. Bought yesterday's move 5.91 looking for the b/o over 6.

The weekly chart, however, shows the the b/o would have been in week 2, which is still too early:  It is set up very nicely for a weekly range expansion next week: 

CYTX:

This one held on for a few weeks without really going anywhere.  Today it ran my stop.

CAPN:
follows range contraction with range expansion.  This is a former runner so it has the potential to really get going once it does.  d

Daily is setup for a range expansion with  for a MACD cross over  and rising RSI. 

ADXS:

This one worked exceedingly well.  After the b.o yesterday, there was a sharp reversal and backtest to the breaking point.  I held my nose and hit the buy button as this came in. 13.91 it dropped on me immediately and made a bit nervous that I would get stopped out very quickly but ADXS than found a bottom and bounced and boy did it bounce all the way back over $15.50

GBSN:
This is one of those stocks that makes everyone say wow.

Entry: 3.67
Exit 1: 4.04
Exit 2: 3.90


Entry: 4.03   (I enter looking for the EOD run, I  knew that this would have some residual power today, but  that did not come in the A.m. and this sold off quickly.   Fortunately my position size was only 2/3 of my original position. I should have dumped this lot of a small profit like I did on INUV when the breakout was stalling.

Exit: 3.73

Entry: 4.29  ( wasn't planning on day trading this but I had something come up where I couldn't be in front of the screen so I closed it. Too bad)
Exit:  4.38

SUPN:
Finally, SUPN A great 1-2-3 ("Fishhook") breakout on the weekly.
Entry: $12.49

Closed TWTR, Opened LBIO, ZIOP, INUV,

My TWTR trade did not last long as I got stopped out today filled at 49.10, which was the b.o. point.  I took a 1% hit on the trade which is fine other than I haven't had the big winners that cancels out my losers this month. 

I think a lot of the difficulty that I (and others) have had this month is that the breakout trade has gotten choppy.  In the right environment, TWTR breaks out and doesn't look back. But many breakouts this month fade and retest the breaking point.   

To overcome this problem, my recent adjustment has been to buy the power stocks off a bounce at the 10Week average. 

SLINGSHOTS:
Here's a the new setup.

 I'm looking for a weekly / monthly RSI to stretch against a pull back on the daily to the magic line.   ZIOP  had oversold stochastic on the daily and pulled back to the magic line.


ZIOP:
ZIOP bounced off the 10 Week Avg. last week.  Not that the market is giving it an "all clear"  It gapped up and faded.  I bought post-fade 11.68.

LBIO:
Nice bounce off the 10 week.  Entry $11.09

INUV:

Just a good ole; breakout off a  Fishhook set up,
Entry $2.03

Trade Journal, Thursday TWTR, ZIOP, MA, BOX, CDXS, ARRY, TASR

I was traveling so I did not get my Thursday or Friday updates posted.  I added a few positions and closed a few, including AAPL, on which I made well over 100% profits on my calls.

Thursday Trades:
(Friday bars are shown)

TWTR Add: 48.19
(earlier entry, 46.40)  This trade is going proceeding exactly as planned.  Thursday was a "shakeout day" as it took it up and then down $1.00.  AAPL did this as well before proceeding higher.  After seeing the rejection of the downside move again, I added to my holdings.

ZIOP:
My stop was hit at I was out of this at 9.06.  This one has gone volatile.  Unfortunately for me this rallied up 10% from where I was stopped and I missed the run.

Entry 9.55
Exit. 9.06

MA:

MA gor a very nice burst out of consolidation which breaks it out of a wedge.  I bought the March 88calls @ 1.71.    MA was showing some power on a weekly chart as well,  I'm looking for a multi week move to $92-$95.

Weekly:

BOX,
Out of the last 25% of my position as Box faded down to 20.08.
Entry: 19.33
Exit 1: 20.05 (50%
Exit 2. 20.62 (25%)
Exit. 3.  20.08

(Note: BOX is currently consolidating and could present an excellent momo burst setup over the next couple of sessions. )

CDXS:
CDXS is a biocatalyst  company that I've followed since their deal with GSK.   It is still a relatively unknown company but with heavy insider buying.  It recently has begun a breakout.  It has pulled back to where I would expect it to so I bought at  $3.43.

PFNX is recently surging  (7 -13.50 in the last few sessions) which should cause traders to look at other plays.  CDXS is well-positioned has top tier partners..   Stop on the position at 3.

ARRY:
I sold out of this one as it hasn't been able to get going to the upside.  A couple gap fades makes me hesitant.  I'd rather manage risk than wait for the b/o or b/d.

 TASR:
TASR gets in on the action a decent breakout from consolidation but TASR has been prone to some false moves so this is a small position that I'll look to get my stop into the money.

Entry: 27.11.