Trades 10/12/13

Lessons:

• DONT UNDERESTIMATE WASHOUT BREAKOUTS - RE $BURL; SHOULD HAVE ADJUSTED MY STOP INSTEAD OF JUST TAKING EVERYTHING OFF NEAR A WHOLE / HALF NUMBER
• I STILL MIX UP BUYS AND SELLS SOMETIMES ON IB WHEN IN A HURRY, FOR FARK SAKE DOUBLE CHECK EVERY ORDER
• STOP COMING UP WITH FABRICATED REASONS TO ENTER TRADES YOU KNOW ARE LESS THAN IDEA

Decent day overall - really annoyed about losing $110 due to IB glitch ... not a nice way to start the day. As usual overtrading in the am session and trading decent setups in the PM.
Actually did well on washouts, 50c+ moves, these times you think you should have risked more than 100 shares ... not when it goes wrong though

Gappers: 0/2 -$40

$GOVX -$30
$WMIH -$10
Maybe time to review gapper strategy - risky to hold active pumps o/n and aside from those there aren't many exciting gapper plays

Longs: 0/1 -$20

$CNDO on panic - 1.75 risk trying to accum 1.80s with 2+ target; took 2c loss -$20

Faders: 5/5 +$235

$FORM at 7.79 as it looked like it could drop 10-20c on breaking 7.8; it bounced back to 7.84 at which point there was a huge offer at 7.85 so I stayed in. Took tremendous patience, covered half at 7.71, 1/4 at 7.56 1/4 at 7.60 for $150 - this was my one good trade of the day
$RBMS making lower highs shorted 9.90 with 10 risk and 9.70 target; covered 9.76; some big intraday support at 9.75 so didnt stick around to see if it would drop lower; +$65
$EVTC not a prefect setup, short 22.90 with 23 risk 22.50 target; got out for $7 after if stopped fading and started grinding
$AG 10.05 with 10.10 risk and 10 breakdown target; b/e as it wouldnt break 10
$NUGT for 10c +$15

Grinders: 1/2 -$90

$NURO on grinding; made big move at the open and then came back. looking for 10c.-> well that's a first, IB was down for a few minutes while NURO was dropping, got out once connectivity was restored -$110; more often than not this pattern actually suggest a move downward

$GNK - on move to 1.90 and beyond, in 1.83, 1.8 risk 2 target; got out 1.88 as it failed to break 1.90 $20; eh it then broke 1.90 and jumped to 2.10



Washouts: 2/2 +$95

$BURL downside of 30c to upside of 60-70; in 23.80 a break of 24 could send it to 24.50;
it did break 24 and was hitting 24.10 then one trade dropped it right back down to 23.70; but it still stayed on trend so i stayed long; target hit for $65; seconds later it shot up another 50c; it's just the curl of the burl; eh make that $1

$DUST 41.36 with 41 risk and 42 target; 41.50 break could quickly send it to 42; worked as planned +$30

Shorts: 3/5 +$40

$ONVO 100 shares short for 10c +$10
$NUGT small on anticipating big support crack at $30; in 30.25 risk 30.50 target 29.75; that was just over-trading not a great setup; stopped out -$30
$UVE starting accumulating a position at 13 - got out at hods for -$57; what a silly trade, i dont "accumulate", there was no reason to go short there
$HSOL I was unable to take a position (SSR) but once it was under intraday support it just snapped, proving this pattern pretty reliable

$DIOD on intraday support break anticipation; in 22.15, risk 22.25 target 21.80; took 15c for $15 as it was consolidating forever at 21
$BGMD 1.17 with 1.20 risk 1.06 target +$100