Trades 17/01/14

Lessons:

• EASY ON GAPPERS -TAKE 2 OR 3 O/N THEY'RE TOO DISTRACTING AT THE OPEN
• LIMIT WHAT YOU RISK ON OTCS - $1K POSITIONS

A few good trades, a few awful ones 
$PSDV there was just no reason to go in with 1000-2000 shares when it was illiquid and I kept making losing trades and going back in for revenge.
$KONE however traded really well, pulled the trigger at the right time as I recognised the pattern (I'll write a blog post about it over the weekend)
Too many times this week I was down big on pot stocks and got lucky to sell on a bounce and not get hurt; there's no point for me to work hard for 10c here and there on big boards and lose x3 in seconds on OTCs - so from now on I'll risk much less;
Looks like I'm off here in my calculations by $50 or so but it's late Friday now... P&L is $750 not $800 will chase the discrepancies later


Gappers: 3/6 +$162

$CIIX record volume day, gapped previous session, should be good for 2c -$60 was good for -1c

$CBDS sold yesterday's gapper at 11 in pre - it ripped to 18... have 15.5 avg, will probably sell at the open again though unless $CANN makes a HUGE run out the gate again; +$136 sold right at the open

$SUBB small position as it's gapped so much already AND it gave back most gains, maybe I get a tiny gap up to sell into; gapped up but couldnt fill at the open -$24

$GRNH thought chart looked ok for push higher - hoping for a gap up to sell into though it really closed weak -> bagholder here; will wait for a bounce :(
$SOUL had a crappy close not looked as strong as it did, .624 avg sell at open; +$38

$PURE just a tiny position, bios been hot 1.23 avg +$3


$LOTE should have left it alone but grabbed dip at 10, 105 - will get rid of right at the open -$94
$ECIG 14.20 avg - could have snagged better entry on dip, first day of big range and vol in a while *should gap* and rip -> didnt rip but nice and steady, low vol compared to yesterday so sold 15.35 for +$163

$VPCOD shorted before the close when it was holding under 8 and last five minutes they pushed it over 8 ... -> bagholder  

Longs: 6/18 -$20

$CANN risky - ARCA seller at 21.75 premarket - will try to sell pre for 23 -$46 was down $300 and was patient for a bounce
$TRTC risking lod on $GRNH coming back, again -$300 to -$25 really need to scale back on them pot stocks
$PHOT risking lod on $GRNH coming back - kept buying dips as it was the one that pulled back the hardest +$126 sold on the bounce
$PSDV on bounce looks like good r/r in 5.02 risk 5 target;  eh was up, then down; 5 o/u for short looks better;

$NVAX 6.06 - 6 risk on $BCRX move; r/g target -$10
$ISR on $MSTX -$2
$GILD -$87
$QIWI 10 calls .55 sold .75 seconds later for +$180 credit goes to @EliteDayTrades for the idea
$LIVE bought the breakout, tiny -$13
$HEMP on big $CBIS move +$7
$PHOT too gave back -$50
$MJNA same small positions -$14
$CBIS +$39
$ERBB +$3
$AMBS +$30
$FOLD nate chase on -$15 on 100 shares - gees i need to follow my rules
$FSPM trying some for hod run - two sessions ago it was about to break to nhod and ran a 20c; blah it dropped 10c after i bought; lesson here is not to chase the breakout, wait for a dip and recovery; ended selling half for -$116

$FDO testing the chart in 66.8 66.50 risk - 67/8 target -$25 guess lower highs not a good sign

great one to short into it turns

Faders: 1/1 +$46

$EFUT +$46 in for the 5.80, 5.75 out 5.61 -> good pattern to keep an eye on; noticing now it closed 5.25 - what a fader

Grinders: 1/2 +$81

$CTIC looks like good r/r in 3.51, 3.48 risk 3.59 target-> this IS the pattern to long into (wider stop and smaller position and I'd done better, sold some for loss on 2.50 break as entry was too removed from 2.48) +$154 out 3.59 and 3.64

need to remember that once they actually breakout they can breakout !!!

$ARIA good r/r too in 7.19, 7.39 target 7.15 risk

 need to memorize this pattern - not a good grinder to buy -$73


Shorts: 8/19 +$512

$CTIC 3.50 risk -$29 respected stop

 $NLST on pops -> nailed the last one only +$70 a few quick trades in the am; most losers except for one from 1.59 down to 1.49
$ARQL fat fingered a 1000 share position at 2.79 still +$30 on 2.75 covers

$HILL before $5 adding on $5 o/u -$57, squeezing look for better entry
 $HILL missed it only 100 shares at 5.01 and it dropped like a rock; original idea was good +$10

$KONE +$100 so in literally 2sec 16 covered 15

$PDSV -$57
$KONE again: I'll write a post about this later, seems to be a pattern than indicates downside is imminenet; shorted 14.20 added 14.70 and covered low 13s +$500


$PSDV again - traded it so poorly again trying for 5 o/u -$20
$VIMC my favourite pattern - didnt take quick 5-10c

$VIMC - just about broke even in the end

$EFUT - tried to catch a flush, small position +$46 - faded to 5.20s ...

 $KONE again - same pattern forming, risking much less this time; in 13.50 risk 14 target 12; 

didnt work -$60 glad i cut it quickly at 14.10 as it spiked - might look to short later

Great covers ...

$IDIX tried small on this spike with previous hod risk

 remember next time when it forms base and pops, probably not a good short ... broke to $8+ from here -$17
$PSDV played it so badly - now finally 5 o/u - trying one more time

$PSDV knew knew knew it was a stupid trade why did i take it .... -$226 overall on $PSDV

$KONE again for flush - missed the entry and chased 14.95; 15 stop 14 target -> took +$20  as the spread was getting nuts again

$KONE mabye last time 14.50 with 15 risk

$KONE +$120 - couldnt be more patient - it was bouncing back and forth from my entry to 14.75 then finally started cracking... thought it'd bounce off $13 so covered low 13s +$673 on $KONE overall

faded another buck and bounced off $12

$NINE is $KONE sympathy - will try to short it if KONE really starts fading again; 2.40 risk 2 target +$12