Recently I feel like my book has been asleep, with the occasional wake up call from MagicJack. I ended last week on a better note, as I felt a rise in my positions in the late session on Friday. However, today essentially erased my paper losses. It was spectacular to say the least. Here’s my book by position size: USG, KLIC, IMUC, WNC, RTEC, CALL, VHC, and IBIO. The charts can be found here. My two biggest positions were up over 3%, while my VHC came back from the dead with a 16% move to the upside. While I sound as if I am satisfied, I am really not, for this drawdown has been painful and annoying. It’s probably not over, and there is much more ground that needs to be covered. The shit could hit the fan real quick — my IMUC shares could fill the volume void below or who the hell knows.

One thing that irritates me is that GFA took off without me. I was staring at the screen last week, watching it trade at 3.90. Today it closed at 4.48. It reminds me of CX, a stock that went from 4.00 to 12.60 in a little over a year. I feel that GFA still has more room to run, but I am not going to chase. I would rather wait until a pullback.

My smallest position was added today, IBIO. It’s a flu stock. To be honest, I felt like I needed some excitement to play around with, and I really loved the falling wedge setup. The trade should be fairly easy to manage — stop under the 20MA and a target of about 75 cents. I was debating between IBIO and INO. In my last post, I featured INO. I didn’t add it today because there is time needed for it to develop a base before ramping up into the 1.00 range. The chart for IBIO is below. I was filled between 62 and 63 cents. There was a late day fade I was not happy about, but lets see how it rides. This one is purely for entertainment, with a little cash at risk.

By the way, keep an eye on MNST, big moves are coming.

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