Trades 08/01/14

Lessons:

• DONT SHORT ANYTHING THAT'S FAR FAR FROM HOD  - TOO BOUNCE PRONE AND BAD R/R (RE $AVTR SHORT)
• DONT SHORT ANYTHING THAT'S TOO CLOSE TO HOD - IF YOU'RE WRONG USUALLY NEW HOD WOULD BRING VOLUME AND A BIG MOVE (RE $ATHX MOVE); USE %2-%3 FROM HOD AS A GUIDE; 
• NEED TO WORK ON POSITION SIZES - TAKING TOO LARGE POSITION ON FAR FROM IDEAL SETUPS
• REALLY NEED TO CUT MY LOSSES QUICKLY - PATIENCE IS OK, BUT ONLY ON THE GOOD SETUPS
• TRADE LESS!

Started the day great, up $500 and then instead of letting the trades come to me I started pushing and made some bad decisions ... two hours into the open I was trading poorly and gave more than half of it back. I felt like taking a break after one hour of trading but thought it would be silly - turned out it would have been quite the opposite.
I regrouped and after lunch (dinner) was pickier, and also with the help of some good calls by trader530 on IL chat, I made it back and closed up $650

Gappers: 0/0

None

Longs: 12/15 +$650

$BLDP with the weak open took just 200 shares at 2.35 and sold at 2.45 for +$20
$FCEL longed 1.86 on $PLUG strength with lod 1.82 risk out for +$227 used big size for me
$CBIS +$80 on pot sympathy
$MJNA pot laggard tried some .175 - b/e missed the breakout
$PHOT at .25 -$46 on fees mostly
$BLDP again on $PLUG sympathy added +$55
$FCEL gave back -$100, sympathy didnt work twice
$UEIC alert by trader530 on IL chat in 37.25 sold on the way up to 38 for +$173
$KNDI +$37 on trader530 alert ...
$SSH news alert on IL chat -$43
$CTIC IL chat room play +$66
$CBIS longed some at 11 to take o/n sold most at .118 for +$70
$CBIS bought the dip to 11 to and sold 118 for +$70
$PHOT made back +$10 - bought the dip too early and didnt want to o/n it
$HEMP +$12

Faders: 1/2 -$120

$AVTR seemed fadey - risky trade given the crappy fills in just under 4.50 with 4.50 risk and 4ish target; shorted way too far from hod when it was looking so fadey at 4.50, this time with 700 shares, unable to add higher ... got squeezed to 5.30s, covered eventually at 4.80-.90 giving back all gains plus -$220 (after comms probably another 50)

$DRAM tried again on fadeage; wanted 3.40 got 3.35 with 3.20 target 3.40ish risk; patience paid off - up +$100, was down $150 at one point, but it was on low vol and i liked the setup

Shorts: 4/8 +$150

$PATH 4.45 being a ceiling here - shorted high 4.30s buyout news so not expecting much -$95 used too much size and it was going against me 

$AVTC so pathetic, dont know why i decided to short 100 shares at the open at 4.70 - and see it climb to 8; covered them at 5.70 for $100 loss. Reshorted 300 at 6ish and covered 5.5, 5.25 and 5 overall up +$189; suretrader fills were awful which worked to my advantage covering, my covers were set for 5.5 yet filled 5.20 avg
$DRAM looked like it was fading, and then it put another spike where i added to my position; 3.45 avg target 3.30 not the best r/r with 3.60 being risk; not ideal setup got out even

$ABIO at 2.29 on that intraday support break target 2.20 risk 2.30

$ABIO was up $80 but let it slip with it bounced on low vol; adding a few at 2.30 and covered 2.25 (new avg 2.28) and 2.28 for $11; reshorted later for a few more cents overall up +$50

$KEYW started into it at 17.80 anticipating a g/r move and it has bee up from $13 past few sessions; took quick +$25 on my small position 

$CCIH in 13.60 with 13.75 risk - up a from $9 past few days; too close to hod, got burnt before on hod break so got out for -$30

$GALE quick scalp with 200 shares short 6.70 covered 6.60 for +$20
$ATHX trying this setup looks topy at 3.70, if it breaks i'm out otherwise looking for 10c; got as much as 5c, then it went against me stopped out for -$29; patience didnt pay off, at least now i know NOT to short this setup - it's actually almost ABCD and it did breakout after i covered