1/16/17 Getting High

New Trade:

CGC.to

(TWMJF  otc.) 

U.S. Markets are closed for MLK day but Canada is open.  I bought my first stock on the TSX today. It fits the profile and I want to work out the details of trading a foreign stock while it is still quiet.  

Slingshot: yes

Vol. not really

Past display of power-- ! 155%+ in 7 days!

entry 400 @ $9.86

Friday the 13th.

New Trades:

GRVY -- This is a stock that has shown tremendous power in the past.  It has stayed above the 30EMA since and just hugged the line.  Biggest volume (45K  since nov. )  

Setup: Slingshot

Risks: Low Float, Chinese (so questionable financials)

Upside:  Past demonstration of power,.    50% or more is possible

DCIX:
Stupidity bites again.
I chased again, this time I got hit with a loss.   -$356  (800 shares)

Why did I take this trade. past power, tight range breakout.  Problem I was late to the party and I bought high 3.49.

IPXL:
First short of the year.   I see a lot of warning flags in the market.  Conditions are overbought and indexes are just going sideways.  VIX is extremely low.

So I went after some weak stocks,  I liked IPXL as it failed to hold a move into the 50MA, today.
Short at 13.10.

1/12/17 -- Correcting the mistakes.

Closed Trades:
Spreadsheet

I was pretty frustrated with myself as I jumped on two chase trades in Uranium stocks yesterday.  When you make a mistake get out of it.  I'm very comfortable taking a momo stock into premarket and working out of which is what I did with URRE.    I sold DNN shortly after the open.  In total, my mistake made me over $1,000.  But It is still a mistake.

DNN:

NTNX:  I gave this one its opportunity but it couldn't show strength over $30.  Not good.  Raised stop to just under $30 and got tagged.  =.45 on the trade.  No complaints, I gave it an opportunity to present a big opportunity and it failed to do so.

Partial Sales:

I would have been happy with anther .50 today.  But it exploded. Sold off 200 at 13.10. (11.45 entry).  The partial sale (with stoop moved up to 11.90) let's me stay in longer for an explosive move. 

New Trades:
CSRA-- I mentioned this at the top of my watch list yesterday.  Buy stop was triggered early. I think it would have been much better had the market been more positive today.  Still it closed up after spitting out the early gains.

CNAT:
Market outlook-- becoming cautious
Setup:  Anticipation.
I'm early on this, but if it slingshots I will add.

1/11/2017-- Trade Journal

Closed first positions:


HIIQ
Sold 20.25-20.10
Perfect,
Sold into opening thrust, this was a big winner and no need over stay the welcome so I sold.  The stock would later reverse and go red after I gotten out.  But this puts 2017 on track for a good start:

COUP:
This was an IPO slingshot, I misplayed it as I took a position with no volume on the move, I got chopped and since my position was big enough my stop needed to be tighter.  This trade probably works with less size.


Lesson:  Size matters,  be skeptical of morning moves with no volume.  To make matters worse it closed at the high.  Bright side.  Risk was contemplated  and exposure within tolerance.

PI:
Stopped out with loss.  After no progress this morning after big day yesterday this became a riskier trade.  A good trade tends to go.  I raised stops. 


Minimal loss.  No regrets on this one.

 
TWNK:
Caught a 3 day move, for just under a buck.  Lock it in.

New trades: MPET
Slingshot, This is the one I've been waiting for.  Triggered today and ran to highs.
position taken $11.44

DNN:
Bought .7453


Although I'm up on this, it  was not a well thought out trade. It should have been taken yesterday on the breakout.  But since the sector was all picking up steam and we had URRE up 30-60% over the day, I jumped aboard.  This becomes one to look for a blow off move and sell.

URRE:
Similar to DNN, I chased.  however, on the a shorter term chart (5 min). I did catch a breakout  I took it at 3.07 close to the end of the day. 10 risk on the trade.  I am not deluding myself into thinking I can use this entry as a position trade and I've been able to sell of a portion at 3.42.   which works.

Summary:  2017 has been profitable.  I need to re-focus as I've made some mistakes, even if those mistakes have been profitable.


Watches, CSRA

Risk,  Time to tighten up NTNX it has made a couple attempts at 30, it either goes or I need to cut size or the whole position.

HIIQ

Market conditions Favorable: yes.

New Trade:
HIIQ

Early Stage 2:  yes,
Slingshot, yes.

And it takes off like a mofo!

PI:
IPO, Slingshot from a dip
Past demonstration of power

Bringing Back the trading journal

This year I will be disciplined in the process.  The process will be explained and the blog will serve as my trading journal.  I was out the first week of this year, so we'll start anew.   I'll do a trade spreadsheet off a $55,000 K account,

SPREADSHEET

MACRO

First market conditions acceptable for trading?

Yes.  Indexes basing,
but breadth measures a bit extended so some caution is in order.
Eyes on  NYMO, RSI ,  VIX low.

Strike zone:
IPOS,  with eyes on energy, metals, uranium, Cannabis.  


Trades:
NTNX
Setup-- IPO range expansion.
Slingshot: Yes
Description.

Series of higher lows shows there is a bit of a descending wedge forming.  This one showed some power  off of bottoms

Risk, 1.5% stop at days low.

IRTC:
Setup: IPO Reclaim the fame
Slingshot:   no

Description:
Breakout to new weekly high.  Sigma significant at 2.24  back to the power zone.
Stop $1.00

TWNK:
Setup, Slingshot from flag.
Slingshot: yes,  from lateral action.

Description.  Spin-off / reboot.  This has shown some power, through November.  Now making a push to ATHs after a month of rest.

Risk,  Back to the box

WTW

Still love the hourly charts for the entry.  I could see this riding up the trend line on small bars.  Then the slingshot on the hourly