Bounce Alert!

I’ve been managing $BCRX since last week after getting the alert from RaginCajun.  I elected to forgo the quick profit from the gap up the next day after my entry because I sensed that this one could be a runner.  Thus, I’ve bought and sold shares of $BCRX to manage my risk so I don’t get slaughtered along the way.   I was down to 25% of original position from yesterday and now I’m back to 110% due to the positive price action this morning.

The chart below clear shows a bounce.

Time will tell if this will become a runner like I sense it is.

My 2 cents

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Today was a slap on the face and a big made-up kiss.

Market opened lukewarm positive but $AAPL was being difficult with a negative open.  I moved my stop to breakeven and it was hit.  I left it alone afterward due to no follow-up with yesterday up day.  I expected to see an up day with strong continuation; otherwise, adios!  It seems to me that $AAPL is now a day-trading stock and not like the trending stock you are used to see in 2012.

$BCRX, again, was on a defensive, so I unloaded some more of my position to cut losses and minimized exposure.  I’m now holding on 25% of the original position so I could give it more room to gyrate around before I cut it out for good for nonperformance.

$CHK opened negative and began a waterfall and I was going, “What the heck?”.  Needless to day, I immediately dumped it and was lucky to get out at breakeven.

$CERS opened neutral and after an hour or so, price began to climb.  As it climbed, I added some more.  It peaked at $5.18 and profit-taking brought it back down to $4.88 area but still up for the day.  I did not take profit because I wanted to see how tomorrow price action behaves first.  Sometimes, too much excitement might push the price action too high too fast in the same day; and then price would continue the next day.

I saw $DNDN during my bio-tech round-up review and chart looked like it might be bottoming.  I bought starter position first and added more later in the day when price action was encouraging on the upside.

$DDD intra-day chart looked horrible and I wished I looked at it earlier; nevertheless once I saw how bad it looked, I dumped my position to lock in profit even though today was still an up day.  But the development of a shooting star candlestick bar did not sit well with me and I didn’t want to wait for confirmation of a bearish stance by taking out today low tomorrow.  I always reminded myself that this was a swing trade and should be treated like a swing trade- take your profit and run when price action began to wobble around.  Don’t worry about the earlier paper gain you’ve given back, just take whatever is left on the table and run.  If you are worry about missing the run back up; then it is your ego and greed talking to you.

$DCTH was acting defensive and weak all day and I just had it.  I dumped this nonperformance stock for small losses (from recent re-entry) and walked away.  $DCTH was a swing trade idea and I held no conviction on this one.  Btw, having conviction on a stock pending FDA approval is like having conviction that the metal ball will land on red on the roulette table.  This is cheap conviction and is not worthy for anyone to fret over.

$FB, $AIG, $SZYM, $AMRN were all doing great today while $PACB, and my remaining shares of $BCRX were still in small red.  I’ll give these two another day before I decide the proper action to take.

Current holdings:

AMRN, LRAD, FB, SZYM, TINY, AIG, APRI, CERS, DNDN, PACB, BCRX and 22% cash

My 2 cents.

@tradingmy2cents

The trades I made in the journal were time-stamped in twitter

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I’ve been watching $DNDN on and off and today the quantum computer in my head is alerting me that we may be seeing a bottom here.

Take a look at the daily chart below:

Did you see the low from earlier this week landed right on the 78.6% Fib retracement?  Did you also see how the two momentum indicators below both turn up and how the price action today is reflecting a “rounding up” pattern?

Price action today also crossed over the 5 min moving average line.  All of this give me a level of comfort to buy a starter position.

Look at the weekly chart below:

Again, the weekly chart is just to show you the prior landscape.  If $DNDN is bottoming out here, we are in the process of starting a 3rd (impulse) wave of Elliot Wave Pattern.  FYI, the 3rd wave, if it is one, is usually the longest wave of the 5 waves pattern…

My 2 cents.

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Yesterday, I posted a thesis on possible breakout of $CERS within a couple of days and speculated accordingly.  It is my duty to inform you that the breakout occurs today.

Yippee Yapa doo!

Ok, now that I got that wave of excitement out of the way, let’s look at the charts a little bit more:

Below is the daily $CERS chart:

 

The breakout is clean and solid.  Notice that it also took out the upper range of the Bollinger band.  That usually mean the bullish force is tremendous here.

Below is the weekly $CERS chart.  This chart is just to show you the possible potential giving the prior landscape.

 

Per my trading strategy, I added to $CERS today.

My 2 cents

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Today was a “load up the boat” day.

Market opened higher and proceeded to climb all day.

$FB opened strong and after seeing the WSJ news on how Facebook is culling the data of its one billion plus users to improve their advertising business model, I added more without thinking.  Before the morning hours was over, I doubled down on my $FB investment.  When I see fundamental news backing up a positive charting outlook, I do not hesitate to double-down.

$DCTH was acting positive since the open, so I added more.  Having cut cost from yesterday news, I see a more positive outlook in their business model if their specialized chemotherapy delivery system is approved by the FDA.

$BCRX was not dead yet.  It actually tried to climb back up to the positive territory after opening down.  I added a bit more since the bird flu crisis is not over yet.  In other words, my gambling bet is still alive.

I was going to buy $AAPL at the open giving the overall market was up; however, having seen $AAPL trekked down despite an up market before, I waited.  But when it finally took out the intra-day high in the late morning, I bought a starter position.

With market heating up, it is natural for me to think that real estate rally is one of main reason; so I added to $AIG for future prosperity.

$APRI took out the $3 price when I was not looking; so when I found out later, I added more.  Based on the weekly chart, I think $APRI still has a lot of room to run.

I was quite disappointed that $S did not partake on today strong rally; instead, it went down.  So, I dumped it for tiny losses.

I’ve been looking at $CERS for awhile since I missed the buy at low $3.xx; but after seeing it was trying to breakout from the multi-year double top; I bought a starter position to bet that it would be a matter of days before the brearkout occurred.

$PACB was looking good with a positive green bar today.  This green bar presented a sandwich to yesterday red bar since there was another green bar two days ago.  In my book, this is a bullish signal; naturally, I added more today.

$DNN was another non-performing stock today giving today up market; so I sold it for tiny losses as well.

All in all, I bought more than I sold today.

Current holdings:

LRAD, AMRN, FB, SZYM, AAPL, AIG, APRI, TINY, DDD, CERS, CHK, PACB, BCRX, DCTH and 10% cash.

My 2 cents.

@tradingmy2cents

The trades I made in the journal were time-stamped in twitter

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By buying the breakout of a double-top (Mar 2012 and Mar 2013) of $CERS.

Take a look at the $CERS weekly chart below:

I had traded and made money on $CERS years ago and recently missed the run from low $3 to current price.  Interesting thing was that when it was trading at low $3, my mind was saying “Hey, you better get ready for this one!”.  But I ignored that inner voice by forgetting to follow up with it.  But now that it was trading at critical breakout point, I cannot ignore it any longer.

Below is the Yahoo-Finance Profile description of the company if you are interested:

Business Summary
Cerus Corporation, together with its subsidiary, Cerus Europe B.V., operates as a biomedical products company that focuses on developing and commercializing the INTERCEPT Blood System to enhance blood safety. The company’s INTERCEPT Blood System is based on its proprietary technology for controlling biological replication and is designed to target and inactivate blood-borne pathogens, such as viruses, bacteria, and parasites, as well as potentially harmful white blood cells, while preserving the therapeutic properties of platelet, plasma, and red blood cell transfusion products. Its INTERCEPT Blood System for platelets is designed to inactivate blood-borne pathogens in platelets donated for transfusion; and INTERCEPT Blood System for plasma is designed to inactivate blood-borne pathogens in plasma donated for transfusion. The company is also developing INTERCEPT Blood System for red blood cells, which is designed to inactivate blood-borne pathogens in red blood cells donated for transfusion. It markets its platelet and plasma systems through its direct sales force and distributors primarily in Europe, the Commonwealth of Independent States, and the Middle East. The company has collaboration agreements with Baxter International, Inc. for the development and commercialization of the INTERCEPT Blood System. Cerus Corporation was founded in 1991 and is headquartered in Concord, California.

My 2 cents.

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Although we have a another up-day for $APRI, price is still at the beginning stage of a triangle breakout in the weekly chart.

Take a look at the weekly chart below:

 

What it means is that if the breakout to the upside happens on the weekly chart, we are still in the infantile stage of a run.

My 2 cents.

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1st storm: Is Facebook Home a Threat to Google?

2nd storm: Google, Microsoft Being Disrupted by Mobile Apps: Pro

3rd storm: Buy Signal: Facebook Widens Data Targeting

4th storm: See weekly $FB chart below:

 

We have a strong bullish bar last week near support, two momentum indicators turning the corners to the upside.

Need me to say more?

I doubled down on $FB this morning.

My 2 cents.

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Today was an interesting up day.

$BCRX opened down and I sold to take small losses.  Yes, it was a gain yesterday and I gave it all back; but that was the deal I was going for when I decided to hold instead of taking profit.  In other words, I was gambling with my yesterday paper gain for a bigger win today.  My bet was wrong so I bailed first and then sat back to see what was happening.  What happen after I sold was that price filled the gap from yesterday and settled down before climbing back slowly to the 1.7x area.   Once I saw the gap was filled, I bought back a starter position around the low $1.7x and put a stop below the intra-day low.  I was not stopped out when market closed.

Next, $DCTH was down due to news of their laying off people to reduce cost.  This was a mixed bag of news but I sold my whole lot quickly and waited for price to settle down.  To me, cutting cost is always a good business move; thus, once the selling was done, I bought back a starter position to see if it would go back up.  I was not stopped out when market closed.

Giving that both $DCTH and $BCRX was not faring well at the open, I took my money out from $MNKD when price began to trek lower after heading up.  I got out at breakeven.  Later, $MNKD trekked back up but I chose to ignore it because I wanted to scale back on the number of biotech stocks.

$SZYM acting like it wanted to go back up badly so I began to add more to my position to slowly build it back up to where I was before.  I’m not giving up on $SZYM yet.

$FB continued to correct but I was feeling that it might begin to turn today based on indicators on 15m and 3m charts; therefore, I bought back $FB shares and my stop was not hit when market closed.

With market continued to soar in the latter half of the day, I decided it was time to buy back $DDD, $CHK, and $DNN.  I bought all three even though they were already up most of the day.  I didn’t buy $CCJ because I didn’t see the “calling” from the chart.

I also bought starter position on $PACB to take advantage of today correction from yesterday jump.

I’m still holding the $S, $AIG, $APRI from yesterday even though they were correcting a little bit today.

Current holdings:

LRAD, AMRN, SZYM, TINY, DDD, APRI, FB, CHK, AIG, S, PACB, DCTH, BCRX, DNN and 28% cash

My 2 cents.

 

 

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Take a look at the $SPY daily chart below:

It looks strong and convincingly bullish.  There is no if or but; we are going up.

 

I’ve bought back $DDD, $CHK, $DNN, added more $SZYM to my portfolio.

My 2 cents

 

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