Trades 12/12/13

Lessons:

• DONT TRADE WASHOUT FADERS
• FADERS SHOULD ONLY BE STOCKS THAT ARE UP BIG 
• THEY HAVE TO HAVE ACTUALLY FADED AS IN AT %2 OR MORE AWAY FROM HOD
• RE-ITERATE WHAT WORKS - SHORTING FADERS, BUT NOT JUST ANY SETUP THAT RESEMBLE A FADER - ONLY ACTUAL FADERS THAT MEET THE CRITERIA
• SHORT STOCKS UP %30+ ($BLDP $PLUG $GNVC) MULTIPLE TIMES A DAY ON POPS

In the AM turned a few winning positions to losing ones ($UVE $PNTR $SEM), and traded setups which were less than ideal ($GNVC). After taking the previous day off I guess I was too keen to trade and wasn't waiting for the good setups. $SEM trade was just silly, it was already down %4 on the day, far from ideal setup and worse of all after failing the first time I tried the exact same trade again with similar results, both times covering right at the top of the range. 
So again I find myself down $300 by 10am...
Made some back on $GNVC short and on $XLS fader - the two setups that I actually trade well.
Kept making poor choices throughout the day instead of concentrating on the setups that work. Will need to put this terrible trading day behind me and be more focused tomorrow.
... managed in the to just break even with that $GLSO trade.
Still, piss poor trading today - made a few trades which were so unjustified I didnt even list them here - all were small though but losses accumulated to $50 or so 



Gappers: 0/0

None

Longs: 1/2 -$6

$GNVC up big, looked like was gearing for the next move up; perhaps lacked a bit of volume. 2.67 with 2.60 risk, nhods target; this "support" at 2.60 was gone with two big orders and it was trading under 2.60; moved stop down to previews low at 2.50ish; -$86 awful typical AM trade for me...
$GLSO anticipated a new 52s, record volume, in at 2.22 target 2.29+ (52s); sold 2.39 +$80

Faders: 1/2 +$21

$XLS seemed fadey at 18.90 with 19 risk with 18.70 and under target; moments later it looked like this:

covered in the 18.70s for $71

$OSTK in at 27.90. 28 risk 27.75, 27.50 targets; knew it would end badly, wasnt really a fader either -$50; it actually closed 27.50 faded away rest of the day

Good examples of consolidation rather than fadage:

Grinders: 0/0

None

Washouts: 1/5 -$50

$AGQ seemed close to a washout breakout; in at 16 with 16.30 target 15.90 risk; wasn't much of a breakout, out for -$10

$USLV same as AGQ with 47 being the b/o level; in 46.70, 46.25 risk 47.50 target. wasn't much of a breakout, out for -$10
$SFXE 9.65 with 10 target 9.50 risk; sold half 9.88 half on the way down 9.5 +$25
$LULU 61 with 62 target 60.50 risk out for -$15 this wasnt a long
$CEIN washout fader - not the best entry at 21.05 with 21.25 risk 20.50-75 target; -$40 it was going against me, I wont trade washout faders anymore, not favourable odds



Shorts: 3/8 +$100

$UVE 12.10 with 12.20 risk 11.70 target -$30
$SEM 9.96 with 10 risk - small risk for potentially big reward; while stock is down from 10.40 it was up from 9 the day prior; touched 9.80 and I didnt take any off then climbed back up and over 10 -$90
$SEM stupidly again on under 10 - lost another $40; AWFUL trades on $SEM, both times covered at the absolute high and it faded from then on

$PNTR 8.25 with 8.50 risk and 7.80 target; went down to 8.10 and then bounced back and turned spready - tried to get out at the bid for b/e, got out 8.32 -$30
$GNVC 2.52 on anticipating 2.50 break and drop to 2.30-2.40; covered 1/3 at 2.41 holding rest for 2.30s; covered another 1/3 2.38, 2.45 +$160

$GNVC again at 2.55 with 2.35 target 2.65 risk; out at 2.41 for another $130
$GNVC again on pop to 2.43 covered 2.31 for $110 
$CYTR looked like a short here with the lower highs and lower lows; well it did for a second and then reversed. I need to stick to my bread and butter :) -$74
$KND silly g/r trade -$40