Closed Winners ISIS, NOAH, CDXS, Losers ARNA, ODP

The market is not feeling the way it should with the expected V shaped recovery fading.  I decided to  close a number of positions  and play defense should more broad selling be in order. 

ISIS:

Caught a nice Breakout, but did not like the 2nd day fade. So I'm out.

Entry: 68.76 

Exit: 72.92 

+$4.16. 

CDXS:
I hit another nice breakout here with CDXS running all the way to 3.29.
Entry 2.93
Exit. 3.22
+.29
9.89%

NOAH:
This one had a lot of potential, but I wind up with mediocre profits as the the bounce on  Thursday was rejected forcefully.

Entry: 19.45
Exit 1:  21.45
Exit 2: 20.46

The weekly Chart looks like it is make or break time. If it starts to bounce of the 10 Week. I should look to re-enter.  But I want to see that test first.

And Loses are part of the game as long as they are small, I'm fine.

ARNA was a Fishhook set up hat I jumped instead of waiting for the trigger and I paid the price:

Entry: 5.93
Exit: 5.58


ODP:
I entered as I thought ODP would find a bottom and then resume.  Instead I got a late day fade, and then follow through to the downside. Stopped out
Entry: 8.50.
Exit.  8.10

Opened ODP

ODP has made a nice move since November.  I was looking at ODP for a bounce of the 10 MA after 7 down days on a row.  This had pocket pivot potential as I bought on highest Volume as stock was up.  Don't like the fade, but it stayed Green on the day.  I'll see if tomorrow gives it a burst. 

Entry: 8.50

Stop. 8.10

1R. 

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: OBCI

I decided to close this short as there was no volume and the move hasn't retraced as quickly as I hoped.  There are simply better opportunities to devote my time and energy:

ENTRY: 4.68

EXIT:   4.40

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 CDXS, CARA, CLNT

Beautiful breakout from this base. Absent a 5 minute surge where people mistakenly thought CDXS was an Ebola play this is the highest this has traded.  It it is now doing so on its own merit.

Entry: 2.93

CARA:
Bought the quiet I like what I see here.

Entry: 10.77

CLNT:
Not crazy about the fade but given today's broader market tape, I'll look past it.  I love the volume surge here on news that within the last month CLNT has obtained over $20 Million in deals... not bad for a stock with a $13 mill market cap.

New Year, New Trades, opened MARK, RESN, VDSI short

Opened MARK
I opened Mark at 5.23 on this weekly breakout. The volume was very impressive.  Float is 7 mill.

On the daily, a volume surge out of the down trend.

I felt this is worth a go, as the battle lines clearly drawn.  I don't think this is a one and done type of move. Interestingly, nearly all the volume came in at the during the second half hour of trading.  I'm not sure what that means.

Added RESN:
I doubled my RESN position on the pull back, which turned out to be a great place to add:

Stop I was stopped out a VDSI on the long side, but I used a double stop which flipped me to net short:
The failure to make a new high is not a good sign for this nor was today's bearish reversal.  I've noticed a lot of leading stocks are failing b/o  and then fading.  This suggests that we are probably gearing up for a bearish move down.

Long Trade:
Entry: 29.04
Exit 1: 28.62
Exit 2: 27.21

Short Trade:
Entry: 27.21