Thursday 11th

CTIC has phase III results coming on Friday. Bull flag going here.

OHGI same as before long biased. Long bias on breakout this time over 5.04.

NUGN Short Bias

I posted up NUGN awhile ago as a short candidate. It looks like the downturn is in the works now. Currently at 4.30 a share.

Twitter watchlist

I posted 8 stocks here on my twitter for Monday. I'm usually more active on my twitter than here on this blog. I love Twitter as a stock alerts platform. I follow some good and great traders on there. Let's see how my watchlist performed. From my watchlist for Monday IMMU was a Nasdaq top gainer up 15%. OHGI was up 17%! NNVC finished up 5%. MELA up 3% and I think it wants more.

5 Year Highs

Looking at a quick screen of stocks hitting five year highs it's mostly medical and financial stocks. Most of the major brokerage firms like Schwab are at fresh 5 years. Most of the breakouts and momentum has been in biotech lately. I'm going to go on a limb here and say the biotech index hits a new high soon. IBB isn't saying new high in the chart, rather it is stalled. IBB seems pretty happy up here though.

What I'm Looking At

I haven't made any trades in atleast a few trading days. I'm still running screens every night. I've had a couple stop orders out there where the stock never moved and subsequently I canceled them. The last one was on SPXL the 3 X leverage bull S&P 500 index. The Russell 2000 looked particularly bullish as well. The setup is still there long on the S&P here. It's on trend support. If I trade any indices like SPXL I'm going undersized in the position. MTNB looks good long. It is OTC though so make sure to protect profits and sell all of position into highs.

For Wedn 27th

Strolling down my watchlists. LAYN is my first priority. MNKD is a long bias. It's in a bull flag. You can always confirm a bull flag by declining sell volume day after day in the flag consolidation. Most people will just look at price. Volume is equally important though. If it hits over 4.91 tomorrow it should run. I have three watchlists. Long biased watches, short watches, and position trades. Position trades are mostly indices, us dollar and maybe a couple stocks. All the lists are pretty small watchlists. The most I'll have on one list is 15 max. I have 10 long/neutral, 6 short and maybe ten position.

NYMX back on radar. Trend support widened out some. Trend support does that over time. It looks to be hugging new trend support. Still not many sellers on the daily volume. If it clears 1.60 it could pop.

Next one is going to drop like a rock any day now. This is a gift. Short short short. Hopefully there are shares out there.

Last short watch is VBLT. It has never held big gains well. Looking at the chart history it sells off after a big run.

LAYN Setup

LAYN is a water company and is up a lot off of the lows this year. The sheer size of the move up to this area says short bias. However, the triangle it formed will be the setup. Which ever way up or down it moves off the tip here is what counts and tells direction. Should be good for a $1 a share move.

Trading Watches 5/21

short ISR PBMD BONA MXPT Long or short NES. NES has a clean high flag triangle.

ISR Recap

I traded ISR today. I bought the breakout at 2.23 and sold at 2.88. It ran on lung cancer data. Cancer stocks can go big time. I bought into a bit of a spike. I could have waited longer for a pullback which actually came but made a good choice to just get some filled with a wide stop.

PTBI Consolidation

This is a symmetrical triangle at the moment on light sell volume. Says bullish. Which ever direction it goes off the tip of the triangle should have significant follow through.

Tuesday MBI SPY

MBI is a short bias. Looks overextended. CHOP did exactly as I expected coming off of that bull flag. I didn't trade Monday and missed it. Gold miners are kind of erratic here and aren't as easy to trade as usual. S&P 500 and Dow Jones is a long on any continuation breakout. I posted on this the other day about the bull triangle on these indices. SPY and the Dow.

Junior Miners Trade Recap

I shorted the junior gold miners index this morning at the open. I used the 3 x leveraged ETF JDST. The idea for the setup was that GDXJ the index was very overbought which you can see by just the price candles and especially in RSI 2. I drew all of this up in the chart below. The other thing was that the previous day it had gapped up ran and faded all the way down. It printed a clear shooting star candle. The candle also was above the upper "Bollie" bollinger band. The dollar looked oversold which drives gold which drives this index. I shorted the open which was below the previous close and it looked like more lows were coming. JDST found support at 6.50 in the morning so I set a stop loss to trigger on a cross below 6.48. It triggered later and I sold JDST for a 5% loss on a slightly undersized position. I'm neutral on GDXJ now and may trade the breakout or a consolidation.