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