4/3/2018

$CLLS gapped up during premarket and was getting closer to that $35 level which was the 52-week high. It also has positive news out about the company closing an asset contribution agreement with company Pfizer. On the daily chart, the stock had bounced off that $35 price 3 times before so I waited to see if it would bounce off of it again to look for a short entry. Once it bounce off $35 and  broke below VWAP and lost the 200-MA(dark blue line) I got short at 33.93. Like a dummy, I got greedy and didnt sell when price got to $33. I kept holding and the stock kept grinding up. Sold all my shares at $33.70 for small profit, but in my head I took at loss and I was frustrated since I was up .90c/share at one point. Decided to reset and wait to see what the chart was telling me. Once it broke above VWAP and consolidated above $35 I saw the uptrend and jumped in long at $36.45. I had small size so didnt sell in partials and got rid of all my shares $37.51. 

1/3/2018

$RENN: This was on gap up scanner making new 52-week high and they put out a PR announcing acquisition of a tech company with a social platform for the trucking industry. They used a lot of buzzwords in the press release like "artificial intelligence" and "block-chain technology" which is what alot of these companies have been doing lately to get attention from some of this cryptocurrency madness going on. Keeping that mind, I was long biased as long as the stock could break the premarket high of $13.93 so at the open I was using that round $14 as a guide. One it broke above it and held I got long at $14.07 with a stop below 14. It started to feel heavy once it made a new HOD and I took profits at $14.60. 

Stats for the month

Ever since I started auditing my trades this way, it has immensely improved my trading. I can see exactly what day and time of the day Im having more success with and I can focus more on that. Trading is all about doing more of what makes you money and less of what costs you money. I didn't trade much at all due to holidays this month but here are the stats:

Happy New Year!

5/1/17

$NTRP: Pretty giant gap down on negative news.I was watching that $9 level which was pre market support. Once it broke below it, I started stalking it for a pop for a short entry. Never really got one it just slowly kept selling and grinding down. got short at $8.75 risking on that $9/whole dollar mark, which was right where VWAP was also at. Covered all shares at $8.25. It kept unwinding even after I got out, but I ended up not touching it again. 

$ITCI: Also a gap down on negative news about FDA regarding their research studies on lumateperone. Held premarket support at $7.50 and then kept making higher lows/trending above VWAP. Once it got near HOD around $9 around 10am I got long at $8.75 with a stop below VWAP. Sold all shares at $9.30.

4/27/17

$EXAS: Big gap during pre-market from $23 to $28.70s that caught my attention. Then looked at the daily chart and saw the stock was at its 52-week high. Checked the news and saw the company reported a loss of $34 million in its first quarter which initially seemed bad, but their actual revenue was $48 million and up 220% from last year's first quarter. Also, their net loss was 26% less than last years Q1's loss. Apparently this company's main commercial product is a 'cologuard test' developed through their proprietary DNA-based technologies for use in the detection of cancer and their sales are rapidly growing since its a lower-cost and less-invasive way to screen patients. Both technicals  and fundamentals indicated a bullish sentiment so at the open I was focused on how the stock was going to react towards the $28 whole dollar mark since was it trending steady, VWAP was right at $28 and kept making higher lows. At the open it dipped down $27.70s but quickly got bought up and the next two 1-min candles held right at $28. Got an entry at $28.10 on the third 1-min candle.  The next candle it literally jumps a whole dollar to $29.20s and so I get out at $29.10 with all my shares. This was my first trade in over a month so I didn't want to scale out in partials. I just wanted to be in and out with no headaches on my first day back. Nothing like a stress-free trade!

3/2/17 and 3/3/17 Recap

3/2/17: $PTCT entry at $11.23. It had long term support at $10.50 and was trending well above VWAP. Took half of my position off at $11.88 and then the rest off at $12.00. 

3/3/17: $NTNX got long at $25 once VWAP and that $24.70s level held. Tried to give this too much room to work and got stopped out at $25.08 once I saw weakness in price action. It was a scratch trade but at least it covered the cost of commission. I should have taken half of my position off at $25.30ish, but I was sure that it was atleast going to test $25.50s and I was gunna take profits there. 

1/31/17, 2/1/17, 2/3/17 Recap

1/31/17: $TEVA was a gap down on negative news. I saw it holding trend and got long at 33.24 and got out at 33.60. I was a little late to the party missing most of the morning move so it was a small gain but easy, stress-free trade overall.

2/1/17: $OKS was a big gapper on positive news about a merger deal. Around the $46 area was resistance on the daily chart and this stock gapped up to almost $60 in premarket so my thought was that if it starts looking weak and cant hold VWAP then it has alot of room downward for a correction. You gota think when a stock gaps up like this there is going to be a lot of people who have been holding this for a while that are guna want to take profits and sell their positions creating a surge in supply....and we all remember from econ class what happens when supply>demand = price decreases. My first entry was right below VWAP at 56.32. Sold half of my position at 55.60 and the other half at 55.15. Kept my eye on this and it kept selling off so entered short again at 55.21 and took first half off at 54.77 and the second half off at 53.75. Awesome trade here and good risk management on my part!

2/3/17: $CY had news about missing their 4th qtr earning estimates, but it still made for a decent long trade. You know never know what these stocks are going to do..sometimes they have positive news and they tank and sometimes they have negative news and they skyrocket. My job is to plan for the most likely scenario based on the chart and react to price action, not try to guess which way the stock is gunna go. Anyways, 12.50s was resistance on the daily chart so when I saw the stock shoot up to 12.90s in the first few minutes of the open I planned to wait for a pull back near 12.50s for an entry. Once 12.60s held I got in long at 12.69. Sold half of the position at 12.90 to secure some profit and got stopped out of the rest at 12.75. Second trade had no follow through. I got short once it broke below VWAP but stopped out pretty much right away.