Trades 27/12/13

Lessons:

• RE $ANIP - DONT ALWAYS COVER ON THE BOUNCE, IF OVERALL TREND IS NOT BROKEN STAY IN
• DONT USE TRAILING SELL ORDERS EVER - EVEN WHEN YOU ARE LONG AND YOU DONT TRUST YOURSELF ... YOU'LL ALWAYS BE BETTER OFF MANUALLY (RE REMAINDER OF $WPCS POSITION)

Good bounce back from yesterday's disaster.
I did ok with my long positions today - something I'll need to do more of in the future.
Also sector sympathy plays both short and long have been very profitable today, it's good to have a grasp of sector leaders, laggards etc

Gappers: 1/2 -$6

$EXMCQ +$34 missed out on a big move up
$XIDEQ -$40

Longs: 4/4 (!) $200

$INO on weak open - finished strong the previous session and down 5% in the am; in 2.86 trying to make 10c; took half at target, holding on to other half for r/g - should really have risked more it was a great setup +$26; well timed exits
$GNK +$36 beaten down and $FREE started to recover and was up 13%, rode it to r/g and a bit
$SHIP same idea +$40
$EGLE same - bought right as $FREE was breaking out +$101
$NVIV 1.35 as it made a big multi-month breakout +$35 didnt want to hold o/n

Faders: 0/1 -$68

$S up a fair bit last few sessions - been fading since the am; if 10.70 cracks we can see 10.50; 10.75-80 risk; i didnt have much of a buffer but the setup looked decent. $50 down side for $150-$200 upside i was wrong, out for -$68

Grinders: 2/2 +$163 

$WPCS looks like a grinder: in at 2.63 with 2.60 risk 2.80-2.90 target; annoyingly it dropped with what seemed like one trade from 2.65 to 2.58 - where i should have stopped out, however it bounced back quickly so i stayed in. sold 1/3 2.72, 1/3 2.74 couldnt bear to hold much longer so had the final 1/3 on trailing stop - got 1.72 seconds later it was back at 1.78 +$87

$ICLD seemed like a grinder in at 15.45 target is previous high under 15.90 and risk is break of trend (20c); sold half 15.83 and rest 16 for $76 - indeed it was grinding higher...

Shorts: 4/6 +$390

$DRYS at 5 with hod pre at 5.04 risk and 4.90 and under target; timed the exits well right on that drop +$65 

$AMRS started building a position in the 4.60s with 4.70 risk - stock has been up HUGE past few sessions -$24 will revisit
$AMRS IB ran out unfortunately so shorted with sure at 4.91 with 5 risk; 4.76 target; as I learned yesterday i couldnt stop at 5, it burst thru 5 and quickly it was 5.20, managed to get out on a dip at 5.10 -$230

$ANIP this usually is the kind of setup where it's about to drop; in 22.13 risk 22.50 target 21.50

$ANIP indeed dropped - +$139 covered half at the bottom of that drop and half on the way up

$ANIP could have been my $500 play today - need to learn not to bail on the bounce

Make that $1500... 

$SHIP shorted some as it's up 16% and $FREE just dropped 50c from it's hod while SHIP is near hod; in 2.25 risk hod 2.35 nailed it nicely; $277 

$AMRS looks toppy here, tight stop; -$30

$AMRS well it certainly didnt top there ... pushed all the way to 6+; i missed the whole drop from 6 to 5 and shorted 500 at 5, covered 4.77 for $115; shorted again another bounce, overall down $90 on $AMRS

$PEIX shorted 5.37 with 5.40 risk and 5.20 target; took $25 as i had to finish for the day

Trades 26/12/13

Lessons:

• NO MORE SHORTING RANDOM MIDDAY SPIKES UNLESS:
•  THEY'RE NEWSLETTER ALERTS ($RIBT)
• STOCK IS UP 25%+ (NOT 10% LIKE $DRYS)
• TRIED THIS EXTENSIVELY ENOUGH TO PROVE IT'S NOT A FAVOURABLE TRADE TO TAKE
• IF I'M WRONG AND IT MAKES NHOD IT'S LIKE TO SPIKE MUCH HIGHER AND I AM NOT ABLE TO STOP OUT FOR A PENNY ($ICLD, $OXBT)
• FOR THE MILLIONTH TIME NO MORE RANDOMLY SHORTING R/G!!! ($CCRN = RANDOMLY, $IDIX I HAD A REASON)
• BACK TO IDEAL SETUPS ONLY - GONE A BIT MAD TODAY; TWO PREVIOUS SESSION MADE ONLY A HANDFUL OF TRADES AND WAS UP NICELY, TODAY MADE A CRAP LOAD OF TRADES AND ENDED FAR WORSE OFF

What an awful day - made so many mistakes most out of boredom and not waiting for the best setups. Need to scale back and wait for the right setups. 

Longs: 1/2 -$3

$IFON went long when it quickly dropped from 1.90 to 1.70; in 1.75 out 1/4 1.82 rest around 1.80 for $50
$IDRA why i hate to long : -$53

Faders: 2/3 -$40

$NM I knew it wasnt really a fader yet went for it -$50

$ARNA seemed a bit fadey under 6; 6 risk 5.85-90 target b/e

$BITA seemed fadey with a break under 31.25 could send it to 31 +$10 it went all over the place was luckly to get something out of it

Grinders: 1/2 -$40

$ICLD looked like it was ABCDing; in at 12.45 with 13 target ... sold 12.79 +$30 this isnt for me, the spread was too wide and i just wanted to book gains; well, it did reach 13 rather straightforwardly too; that spike actually hit 13.25

$DRYS 4.65 with 4.70 risk 4.55 target -$70 went against me

Shorts: 6/18 -$500

$SPCB am parabolic move - shorted 4.75 trying to make 10c up $36
$EROC same in at 6.68 trying to make 10c out for $27
$CCRN eh, tried the r/g again with tight stop ended up adding under 10- if it pushes over 10 might stop out; indeed stopped out for -$30
$IDIX chased the g/r when it was down 1.5% - thinking it can go much lower, trying to get 20c; WOW what a trade ... I shorted 6.70s and added high 6.60s - was up for a bit and then it went against me big; i fought it and averaged up; took $150 loss at 6.90, then added more 6.95; was down $400 at one point but felt i knew what i was doing; it then dropped quickly after breaching that 6.88 level to 6.83; I didnt cover any and it went back up over 6.88 to 6.93; decided to remain patient with it; it came back down to 6.82 where i covered half and rest at 6.70s; ended with +$130 instead of taking it i let it get away from me again, and again i fought it and this time i lost. over all down $100 on $IDIX

$DRYS shorted the big spike 4.50 with 4.55 (hod) risk and 4.41 target -$31 stopped out

$INO -$10 shorted midday spike
$IFON midday spike - this one has a serious spike, up 35%; shorted 1.57 with 160 risk, covered half 1.51 half 1.46 for +$40

$IFON again, at 1.45ish, looked like it was heading lower - covered 1.55, 160 -$250; 
$EROC under 6.50 as I mentioned in the watchlist - 6.50 is a key level on the daily; gave back $27 which is pretty annoying as it dropped to 6.35 shortly thereafter
$EGLE big move on the daily from 3 to 4; hod of 4.03 shorted over/under 4 at 3.99 with nhod risk 3.91 target b/e

$ICLD on big spike; 12.25 risk under 12 target -$93 stopped out 

$ELGE is it about to drop? -> yes, yes it is

$TPCS otc that had doubled past few sessions. in 1.22 with 1.25 risk and 1.10 target b/e
$DRYS looks a bit like ABCD but also like $EGLE before it dropped; was ABCDing... not EGLEing; down another $40 on $DRYS

$OXBT 5.20 risk in at 5.15 5 target; unfortunately when it made new hod it spiked past 5.30; -$174 good lesson to NOT short random spikes especially not in something like $OXBT

$INO lower highs however r/r not great

Lower highs are irrelevant -$130

$BISN shorted a few days ago at .98, covered .84 for $140
$NM not perfect in 11.20 risk 11.30 target 10.90; blarg took $25 after being up $80

$RIBT newsletter alert - not ideal it hasnt much time to fade... (it's 10 minutes before the close) in 5.37 looking to make 10-20c +$100

Trades 24/12/13

Shorts: 7/9 +$470

$SUPN AM parabolic short - in at 8.80 and added 8.99 with 9.20 risk and 8.70 target, covered at 8.84, 8.70, 8.65 for $60
$ARIA -$23 no real rational behind it, it wasnt up that much to be a paraboilc am short candidate
$ARIA stupidly tried again when it broke intraday support; it didnt hit my target so i held and stopped out for -$27
$BASI 5.54 avg with 5.60 or 5.80 risk and looking to make 10-20c shorting this 40% spike; covered 3.43 3.35 3.27 for $160
$ARTX on g/r ... eh I really should stop taking this trade. in 3.60 trying to scalp 10-20 with 3.65 (green) stop; covered 3.53 for $66
$EROC big spike, 6.50 major resistance on the daily, took some 6.40 6.45 and covered 6.31 +$23
$IDIX no big spike, risky - in at 7.20 with 7.50 risk - +$117 covered 7.1 and 7.01; dang it droped to 6.80s -memorize this pattern!

$NFEC low float so perhaps i should have taken a smaller position big spike from 1.50 to 2, took some at 1.90 avg with 2 risk; it didnt go over 2 but quickly went under again. covered 500 for b/e covered in teh 1.80s for $95
$PEIX tiny on huge spike, covered for 10c $10 (in 4.79 out 4.67)
$ATOS is this something to short? way off the hod, but still up 13% on the day... nice fadage and about to crack support; tried a few out for -$20

$BASI similar chart - does it tank? -> it didnt 

$IDIX testing that intraday support - could snap to 6.75 if breaks

Trades 23/12/13

Had shoulder surgery this morning so wasn't planning on trading, but couldn't resist it.
Just traded for two hours from 12-2


Longs: 1/1 +$43

$YRCW in 18.60s target was 19; was up $70 but it didnt 11 so i stayed in. it dropped as far as 18.30, I added a little then sold at 18.75 for +$43

Shorts: 2/2 +198

$ORMP in 11.71 out 11.41 for $90
$CANF wasnt a perfect setup, however it had a good r/r. shorted 8.87 with 9 risk and 8.5 target, covered 8.62 which turned out to be the low; +$108

Trades 20/12/13

Lessons:

• DONT SEND MARKET ORDER ON ILLIQUID STOCKS (DOH!) RE: $ASTC
• CUTTING LOSSES QUICKLY VS CHOOSING THE RIGHT SPOT TO TAKE A LOSS... TRICKY ... SAVED ME $250 ON $ORMP THOUGH NEXT TIME COULD COST ME 
• NEED TO HAVE WIDER STOPS ON THE STOCKS UP 50%+ - $1 STOPS ...

Made two mistakes on $ASTC trade ... sent market order to short which got me worse fills, and sent cover order right as it was collapsing under 3 for 3.01 ... 
What horrible trades on $ORMP, twice:
First time I wasnt patient enough and missed $1.50 on the downside.
Second time I was patient but I let it got $1 from where I initially shorted and added on the way up... it ended up not so bad as it came down, but had it broken thru 12 i'd be down $500 instead of $100
Overall making some better decisions which I guess come with the added experience.


Shorts: 13/21 +$285

$CLWT chasers took it up to 7.30+ in the am, i took a tiny position too soon at 6.80 covered 6.65 for $16
$ARIA tiny short 100 shares made $10
$ARIA lost $50 - 5.75 with 5.85 risk - covered 5.90 it shot up to 6.20
$CLWT again for $20
$ASTC 3.20 with 3.25 risk 3 target +$20  covered 3.07
$ASTC sent a market order, stock was illiquid so it filled at 3.11 avg where best bid was 3.16 ... set to cover 3.01 - covered for $100; sent the order to cover just as it collapsed to 2.80s ... argh
$ORMP small but still no excuse - took some under 12.50 with 12.50 risk, but there was really no reason to get in. out for -$50
$ORMP back in when it was downtrending - still quite a big spread so took 300 shares at 12.25 avg, covered 200 at 12.02 another at 11.60 ... for $90
$TSEM up $60 took 200 shares at 7.07 with 7.25 risk at 6.75 target; covered for b/e it was no longer looking like it was going to break down

Good call covering!

$AMBA looked like a failed attempt at hod - so set r/r; in at 27.33 with 27.50 risk and 27 target; got out for b/e 

$ORMP if that 11.60s support snaps it can fetch 11-11.50 in mid 11.70s 11.9-12 risk 11.50 target

Support held, so this happened:

Now it looks like it's formed support at a higher level so I assume it's going higher

It didnt - so I was able to cover some at b/e instead of $250 loss; and rest on the way down when it broke 11.50

$TSEM 6.93 with 7 risk 6.60 target; covered hastily for -$34
$TSEM Tried again with fewer shares at 6.95 with a wider stop (previous high) 7.15 and 6.60 target; after consolidating at 7 which seemed fadey as it was making lower highs etc, it spiked to 7.10; i respected my stop and didnt cover. it came back down and i sold half at 6.93; rest at 6.99 after it hit 7.10 a few times

Yup, certainly wasnt collapsing:

$ARIA on this 6.75 crack; covered half 6.59 half 6.53 for $100; it then went right back up to 6.75 - that's why one needs to take profits quickly on the big boards ...

$TSEM is this a cliff dive or springboard? shorted 6.96, covered 6.81, 6.77 for $100

$ORMP bounced quickly from 10.30s to 11, shorted under 10.93

Small spike turned into big spike:

$ORMP touched 11.80 and i was down unrealised $400 ... I held and covered once it came down.
overall down $105 on $ORMP

$TSEM again at 6.76, covered 6.60 6.50, 6.40 - overall up $176 on $TSEM
$VNDA not the best setup - seemed fading shorted 11.23 trying to make 10-20c; it did crack a little for me, covered 1/4 at 11.16, and rest 11.19 for $20

$BDSI 5.75 tight stop +$16 ran out of time

$AVNR i tried to short some 3.3 on 3.3 anticipation break - covered for -$20; memorize this chart, this is NOT one to short into; not first time i've done that