Monday, February 29, 2016

Sold SYN 17%!!

I sold all of SYN at 1.90 near the end of day Monday. A 17% gain over a couple trading days. Still holding half the original position in JSDA. Still holding GSS even after its up over 10% today. Spot gold still is bullish.

Saturday, February 27, 2016

New Positions

I've been position trading over the past few months and it has been going well. You could also call it swing trading. I like position trading. I think it is working well because I am mostly using stop orders. This removes any hesitation I could have if I were watching the screens intraday. It also removes any excitement I could have that would make me get into a trade to early or one that I shouldn't be in in the first place. I don't have the hesitation I used to but the stop orders are always placed at a breakout or breakdown level. Take today Friday the 26th for instance. On Thursday night I put a stop buy order out for ATHX at 2.01 or 2.02. That was just above the 2.00 and a clean breakout. It was also a round number which often in low priced stocks is a key battle ground. The stock never broke 2.00 and failed the 2.00s. It then tanked something close to 10%. I never got in that trade thank god. Because I was so disciplined with the stop level.

I did have a stop buy order out for SYN which filled perfectly on the technical breakout off the high flag. I filled at 1.62. The stock ran huge up to 1.86 high of day. I could have taken some profit if I were watching during the day. With most stocks a spike day like that will hold up though. It settled to close at 1.71. Nice volume to. I'll just put a stop sell order for just below the close for Monday. I also shorted PLNT the other day as a hedge to my long-term long position in it. Earnings come out the 3rd and it looks like I should cover for a .60 a share loss based on the hammer it printed Friday.

Thursday, February 25, 2016

Gold Bullish Move

Gold has been in a downtrend for a long time as you can see from this chart. It just broke above the trend resistance. It's flagging here to. In itself this is bullish. If it goes above the flag/triangle here it should see more highs. I longed GSS the other day at .35 as a play off this.

Monday, February 22, 2016

Covered All SM and GRAM

I covered SM at 8.75 for a total +5.7% gain on the trade. Covered all the GRAM at 3.79 for a +4.4% gain. There's the bounce on GRAM I talked about in the video.

Taking Profits

A look at my thought process on taking profits and setting areas for stops. I dissect GRAM. I look at potential shorts CPXX and GLUU.

Saturday, February 20, 2016

Green On The Screen!

Nothing but green on the screen. My trading long and shorts were all positive for me this week. I don't think I have one losing trade this year. I'll have to check that but I can't recall one. I will do a video either this weekend or definitely Monday after I take more profits on these positions. My two short positions GRAM and SM both tanked nicely on Friday. I'm only holding about a third of my original short on SM. I'm still holding all the GRAM short.

I put stop orders out before Friday's open to lock in these gains incase they both moved up. I gave a lot of wiggle room on SM because in the past after big drops it consolidates. Luckily it didn't do that and just dropped again! About 7% Friday. I will probably do the same for Monday and do a buy to cover stop on any green on the day. GRAM I really wan't to cover the whole thing. It has fallen so nicely so fast that I see it having a positive day here soon. Also the sell volume hasn't been very robust. Hinting at a bull flag or flag attempt. JSDA is looking good technically above the long trading range.

Thursday, February 18, 2016

New Video! Shorting Spikes 101

I give a step by step approach to shorting overbought spike charts. I shorted GRAM today on the breakdown.

Tuesday, February 16, 2016

Lots of Plays Out There

I longed Jones Soda (JSDA) at .53 this morning. It broke out in the afternoon and printed $.57. I did a post on it on Stock Pursuit. I covered a little over half of my SM Energy (SM) short around 10.00 a share. It continued to tank another 6% even with oil and the market up. This is good. I will hold the rest for awhile. DRYS is on trend support and if it breaks over $.12 a share it should run atleast a day. The Baltic dry index is so oversold now. It's crazy. Not a good thing being down so much for the economy possibly.

Thursday, February 11, 2016

SM Energy Short

My short bias on oil proved correct. Just put an order out to go short SM Energy (SM) at 10.97 if it hits that. Clear bear flag going on. A lot of these energy companies are in deep trouble if oil hangs out around $30 or below for long. A lot of credit issues coming.

Wednesday, February 10, 2016

Crude Oil Breakdown

There was a perfect test of former support on crude oil today. I'm anxious to get short on a new technical breakdown. Look for more momo on a breakdown. Ticker SCO is the ultra short ETF tracker. It has decay as you can see it's not quite near a new high. It's good enough for a couple days hold though. Looks like a good long on 117 print. The stop is an issue since a failed breakdown isn't clear except much higher. I'd say I will have to go undersized on the position because the stop loss has to be pretty wide here. Until it starts really crashing or gaping down.