Cree shares are in the toilet after reporting soft guidance after the bell.  I can only see this as a buying opportunity.  If it presses my RVLT shares lower, I’ll be looking to buy more of their shares too.  Listen to me very carefully: LEDs are coming in a big way.  There are hundreds of millions of light bulbs that will be updated to LED technology.

Cree was priced for perfection going into earnings, it worried me.  I could have lightened my shares, but then I risked having to buy them higher on a positive reaction.  I’ve been biding my time with CREE, letting it effervesce for months, hoping for an opportunity to add exposure into some blood.

It appears I have my opportunity.

Shares are down nearly 15 percent on the news.  My cost basis is much lower so the market will have to do worse to shake me. I’m a buyer down here, but I intend to do so with laser like precision.

The CREE chart has needed to reset since February.  This isn’t a trade.  It’s a multiyear thesis that will crush.  The numbers out of CREE look great to my eye.

MOVING ON…

There’s nothing you can do, sans having illegal insider information, to avoid the type of loss I was forced to take in OCZ today.  Sometimes you get unexpected news, especially when you’re digging through dumpsters looking for winners.  You have to cut the names as gracefully as possible and take precautionary measures to protect your emotional capital or avoid tilt as some say.  I should have probably sold on the first bounce, instead of nursing the position late into the afternoon.

I am experiencing winship in the AIXG today, I’ve waited quite some time for this name to get active, and it will be interesting to see if CREE is a negative contagion tomorrow.

My peanut gallery of stocks were mostly down today with the exception of ONVO and IMMR.

Tonight I’ll be formulating plans to accumulate the blood in LED and I will burn thickets of sage to cleanse these demonic losses out of my home.

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I’ve been nursing a few position this morning, namely OCZ, which has me somewhat sidelined to the other opportunities our markets present.

In terms of momentum trading, this is where you buy YELP, down here in the trough, if it shows any signs of strength.

Several of my other stocks are in the red.  I wish some were more in the red than others so I could buy more, but the day is young.

Our morning idea in the $ES_F was to see some digestion of the overnight move because it took the markets into overbought territory.  The sellers had more than a mere digestion in mind and put us firmly into scenario 2 from the morning report which called for backfilling yesterday’s short squeeze.  That task has been completed and the buyers are right back on the scene, keeping us in the churn.

The buyers could turn this thing around by holding above 1686.75, and we would target an upside move to test the daily high at 1690.50.

 

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As quiet as today seemed, I was able to advance my portfolio by over 1 percent today.  Leading the way were my LED players, RVLT, CREE, and AIXG.  This basket of securities currently represents 23 percent of my portfolio and I intend to make it much larger, perhaps even as large as 50 percent of my book.

That’s how much conviction I have in lighting grade LEDs.

I intend to make a very concentrated bet and advance my family to the next level of society, top hats.  If anyone can present one iota of evidence contrary to the eventual 100% adoption rate of LEDs in the United States, please do so now.  And don’t feed me that plasma light bullshit, I’ve tested these things and I’m wholeheartedly unimpressed by both the performance and the economics.

I’m slowing my swing portfolio down a bit, instead focusing on building into names I believe add value to society, which is why I started buying cigarette marker LO into the bell.  I’m essentially parking money in the Newport Cigarette maker, planning to earn the very handsome coupon while they add value to the smoking community.  How?  The Blu eCigarette.  When LO took over Blu and rolled it out to every convenience station from here to California, they earned the early mover seat in this space.  I like to imagine they have teams of behavioral physiologists and scientists working around the clock to sell more of these disposable vaporizers.  My game plan on LO is to buy weakness, time and time again, and allow the eventual growth from eCigs to buoy the share price enough for the coupon to make me profit.  Fun stuff, I know.  I’m sleeping on some Ford(s) shares the same way.

I have a heterogeneous mixture of other stocks kicking around in the old portfolio, mostly names where I’ve taken the lion share of profits and left a runner on for sport.  Stocks like O, BPZ, ONVO, and IMMR.  I really only see reason to sell BPZ but the others I keep, like collecting baseball cards.

I still have a decent hunk of FB, about 35% of what I consider full size.

I bought more OCZ today.  This is my aggressive pumper.  I’m having a hard time accepting a double top at two bucks.  I’ve questioned this proposition by increasing my size in the name in search of a short term pump.  I’m playing PBF in a similar manner although it has different chart logic.

My other aggressive trade is YGE, which is still huge.

That makes 14 longs, 0 shorts, and 25% cash.  Just writing that out makes me want to sell something and concentrate my eggs…

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Everyone’s getting their panties in a bind over tomorrow morning’s premarket jobs data, thus I thought it my public service to broadcast my book into the bell.

Enjoy,

Raul

 

Here’s my book, by size, biggest listed first and cascading in size smaller and smaller as the list goes on:

AIXG, FXY, F, CREE, FB, I, END, IMMR, YGE, GTAT, OCZ, BPZ, and O

Cashish, it’s high, about 50%

TOP PICK: I WISH I HAD ZILLOW DAMN!

I like END the best baby

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The inefficiencies of the market place are working their way to the surface this week, or so it seems to my eyes.  I want fresh cash ready to deploy into the market so I used this morning’s strength to toss out some old names and make way for new.

I closed out my TPX long near $40.  I thought it best to avoid staring at this gift horse for too long.  I lost 9 percent on the trade.  Not too shabby.  I like when I get excited about a loss, it means big wins are near.

I closed my EXK runner out too.  The USA dollar was ripping overnight and I’m not trying to get fancy.  The runner was still 4 percent in the profit so I cashed it out.

I cut AMBA, I’m not liking what the tea leaves are showing:

I planned on selling GTAT and OCZ this morning too, but after hesitating a brief moment they’re both back in the slop trough with other opportunities.

These sales brought my cash up to 50 percent.  I may miss a big blow off move on the Fed this afternoon, but should we see a downdraft I’ll be more prepared to pounce.

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I’m testing out a new run-and-gun strategy with about 50% of my swing portfolio.  Like any approach I take to the market, I start by writing out a plan.  I usually keep these private because they’re very dear to me, but iBankCoin is for the people.  I have written close to 50 of these plans.  Any good plan should be amorphous to survive in the markets.  Therefore I start with something basic and add or remove rules as I become more familiar with the approach.  Enjoy.

Raul

 

I will trade stocks from the popular intraday momentum screen within The PPT  (Link: PPT Members Click Here!)

I will trade long only

I will enter trades either when the S&P 500 as represented by the eMini S&P future contract “/ES” is at a support level I suspect could mark the low of the session or when the index shows upward momentum.

I will choose whichever stock in the list presents the best daily chart setup

I will drill down intraday and enter the first buyable dip

I will risk about 0.50% of my portfolio on each position

The above plan is already in action with the following trades:

Current positions undertaken according to this plan are OCZ, SCTY, & FIVE.

SCTY was entered too early according to my third rule.  Therefore the entry was only 80% within compliance with the plan.

FIVE conversely was entered in the afternoon, when the overall market showed signs of upward momentum.  The first buyable dip was entered upon, and the position size was correct. 100 percent.

I entered the SCTY trade very soon after taking my third scale in OCZ.  I’ve been scaling OCZ off in quarters because it was a huge position.  I was frustrated when I took my morning scale at 1.89 only minutes before it rallied to 1.99.  I immediately utilized The Stop Method© but I did so in slight haste, pouncing a bit aggressively on the SCTY long.  It offered a lower risk entry soon after.

Prices I’ll be targeting on the aforementioned three trades:

OCZ – n/a I’m down to a runner that must trade below 1.70 on a closing basis to stop me out.  I want to let my winner run free like a wild horse.

SCTY, Targeting 43.25 then 44.50 then runner.  Risk below 39.95 on a closing basis

FIVE, Targeting 42 for a 2/3 scale then runner.  Risk below 38.80 on a closing basis.

Rinse repeat, rinse repeat.

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It was a week of setbacks in the market for yours truly, being on the receiving end of two major blows.  Going into the weekend, I had to rid myself of one of these losers and of the two, TPX and ENPH, I decided to cut ENPH.

It was not an easy choice but it was most certainly a necessary choice.  I want loose capital, ready to pounce of fresh ideas.  Hell, I may even buy some ENPH next week, who really knows?

There were big winners this week. Zillow spent most of the week pressing into the necks of their high short float…I wish I hadn’t sold, but perhaps we’ll get a downdraft next week to latch onto.

Facebook was hands down the darling of the market, perhaps restoring the confidence of the disheartened retail investor.  I knew this day would come, where I would have a low cost basis in the name, able to now kick back and let the future pan out.

I made OCZ full size early last week, a rare move even for me.  To go full size in a sub $2.00 stock takes a certain amount of gumption and laser clear risk parameters.  As dicey as it seemed to hold the position for 8 sessions with zero progress, it continued to behave constructive.  It was only a matter of time until the shorts were spooked.  Today, I sold ¼ @ 1.75 earning around 5% and another ¼ at 1.825 (damn algos) earnings over 8%.  It’s a great trade so far: a very constructive chart with lots of shorts to fuel a rally and a company that creates wonderful value for the world.  I love it.

I’m beginning to see the potential of smoking shorts out of their favorite hiding places in this aging bull market.  With the tools this site provides, I intend to do exactly that.

I backed off the futures this week, taking a more passive approach.  They intrigue me to no end, and I see huge potential in trading them, but my interest is shifting to day trading these momentum stocks.  There’s an edge to be had in sousing short sellers with the buy cannon and grabbing .40-.50 cents in movement.  If you align your orders with a change in trend in the /es, you’re riding the tide holding a water bazooka.  It just sounds fun!  And I want to put more capital towards this new sport.

I’ve accepted that TPX will likely trade down to $35.00.  Then I want to see how this price level is met as it is of HUGE importance.  I may buy more shares, I may sell, or I may simply hold on to what I have.

This has been another fantastic week working alongside the brightest minds in finance, and I look forward to doing it all again next week.  Have a great weekend.

I’m such a sucker for Bruno Mars, I can’t help it…he reminds me of James Brown in this video, enjoy:

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The old me would be stalking EXK today like I did Miley Cyrus last time she was in town, but I’m comporting myself with a bit more grace and self-respect today…like Pepe Le Pew.  I learned not to chase miners, EXK in particular, through a long history of daggered hairpin reversals.  The name is volatile, I felt early on that I missed the action, therefore I did.  I’ll have to tickle my fancies with something else today.

I’ve quite enjoyed being kicked in the scrotum this morning by my newly minted long OCZ.  They came out with some preliminary earnings data rather out of the blue, and lo and behold they’re still combating supply issues.  “SUPPLIES!” …no surprise.  There are worse problems for a company to have, like no sales.  Anyway, the stock market is the final arbiter.  If the name doesn’t shape up into the bell I may axe it (no piker body spray puke).

I sold a bit more O which is fantastic, this trade played out LOCKSTEP, and now I have my final 1/3 which the market must work very hard to take from my person, as my cost basis (net of booked profits) is now $38.50 aka well below swing lows.  I hope we take out the recent swing low, run some stops, and then I’ll add some back on.  This is going to be my new AWK, collecting me a coupon while I skip to my lou though the market minefield.

My solar trifecta has me more pleasured than Lil Wayne ‘turked up’ on opiates at a stripper convention.  Take your pick: YGE, FSLR, and ENPH the sector is leading higher just as prophesied by the immortal Le Fly and other iBC cast members.  Use the green juice to power some CREE bulbs and you’re on the right track, guy.

DDD and PRLB did this morning what I like to call the bear pinch: drive lower, pullback for shorts to enter, make a new low, barely, than quickly rip higher, leaving asshole bears stuck in their underwater positions.  Have a great afternoon you harry bastards, it’s hot out there.

RVLT finally lifted off and it has done so without me.  I’m instead nearly balls deep in German LED play AIXG, down 1 percent.  All dogs have their day, RVLT is a decent company, but they’re no CREE or AIXG fundamentally.  RVLT is an instrument for degenerates to trade.

I’m happy to have paired my IMMR with some INVN because to me, they’re the same thing: new tech, chips.  INVN appears to be more en vogue.

F won’t let good Americans in unless their 401-k is set to ‘auto-allocate’.

FB still wants to win, while you’re looking elsewhere.

I’ll never own enough Z, but I own it nonetheless.

TPX is still my largest.  You will all feel its gentle wrath.

Who thinks BPZ has another squeeze in it?  (Raises hand)

That’s my book in a nutshell.  I’m considering an FXY long as protection.  Call it Kong hedging.  iBC is becoming a formidable beast.

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I’m watching these rusty shorts fail time and time again to break 1666 on the spooz in the most non-eventful trading session of the week and it got me adding long exposure.

I bought OCZ and then I bought OCZ again.  I bought some FSLR too.

These purchases were financed by sales of BPZ early on at 2.33 which was a pretty fancy fill and sales of Z at 64.14 which is only decent.  I still own pieces of both.

Cash, it’s low: 6 percent.

I would have loved to play some Friday lotto too, but my piker Think or Swim account got the 90 day ban hammer lol.  I totally forgot about that pattern day trader rule, but I like to segregate my pure degenerate money to ToS, my swing money to Fidelity, and my futures money to Mirus.

No trades in the futures.  If I don’t trade all willy-nilly, I get to smoke a stogie this afternoon.  No setups have triggered today.

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