Zen chases $APRI for thrill

After taking my quick profit yesterday, I assumed $APRI fun was over for good with short-sellers taking over.  But this morning action told me otherwise.  After open, price action started to kick off to the upside.  Not to miss this speculation play, I bought back some shares to join the thrill ride.

If momentum continues the way it is now, $APRI may be breaking out to the upside after taking out the Feb 11 high of $3.42.  If, a big IF, there is a buy out in the card, this one can go a lot more…

Below is the daily chart:

Below is the weekly chart:

Notice that this week bar has already broken out of the two 79sma and 89xma lines.  Notice also how the two ma lines are merged together this week.

My 2 cents.

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Today was a fighting day.

Market opened down and then yoyo through out the day before finally collapsed into a mini-correction.

First thing first, $AAPL opened down and I was stopped out of my long position due to my hard stop from yesterday.  Not to be discouraged, I watched for a bounce and when price action began to rally, I immediately bought back shares and rode the rally back up.  I used a trailing stop and was stopped for gain.  Since I didn’t buy at the bottom for the bounce, I was still short of recovering from the morning losses.  So I waited to see if $AAPL would continue to rally from the mini-retracement that took my trailing stop out.  Price action bounced off the retracement low and I bought $AAPL back for the continuing rally.  By end of day, I took profit again to bring my day to breakeven on my $AAPL trade for the day.  Giving that I lost quite a bit on the gapped down, I considered today a wining day for me since I was able to recoup my losses.

$APRI had a big rally yesterday due to the fact that $APRI had a 8K report announcing that they took off the “poison pill” in their company setup.  Speculation on takeover drove the price up in the morning.  Not to miss a good speculation jump, I bought a bunch in the morning and watched my position turned green quickly.  And when it started to turn south, I placed a stop and was promptly stopped out to lock in profit.  If I had sold at the market instead of wasting my time to place a stop loss, I probably would make more money.  But then this is hindsight talking.  Due to the speed of a fall, I was able to keep only 20% of my gain.

$MNKD opened up but was taken down by profit-taking.  Not to miss the boat, I unloaded my shares as well using a trailing stop to protect profit.  Later when price stabilized, I bought back a starter position only.

Since I had a hard stop on $NVAX below the trendline, my stop was hit and I was out in the morning.

I saw $CCJ continue to march higher; instead of chasing it, I decided to buy $DNN which was still working on the bouncing momentum.  I added more later when price began to move up.

Seeing that I missed $DUST yesterday, today retracement gave me an opportunity to buy back some.  The setup looked perfect with a close stop for a small risk trade.  By end of day, I am still in the money.  My stop is still in place because I’ve used a GTC order.

I bought $BID after reading The Fly’s thesis on it.  Seeing that it had retraced quite a bit during the day, I bought a position for the bounce.  Unfortunately, price continued to fall further down and I finally put a stop below the intra-day low after a bounce.  No luck.  My stop was taken out and price fell further down.  Moving on.

$CERS continued to rally more and I remained long by sitting on my hand to prevent it from pushing the button to take profit.

Current holdings:

AMRN, LRAD, TINY, CERS, GLUU, DNN DUST MNKD and 31% cash.

@tradingmy2cents

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

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With $CCJ recovering, it is time for $DNN to play catch up.  We are getting close to the point when the uranium supply from the Russia will come to a slow drip due to expiration of the on going US-Russia HEU (highly-enriched uranium) agreement in 2013.

The chart below looks like it is ready for a bounce.

I bought a starter position in the morning and later added more to double-down on the bet.

My 2 cents.

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$CERS is one my “chase” stock from Monday and I’m still riding the rally on this one.  Price action is now near the previous high of  $5.43.  A breakout of this resistance from here without any consolidation will form a left-hand cup & handle breakout pattern.  Yes, you’ve heard it right.  I don’t know if there is such a thing as left-hand cup & handle pattern in the stock chart book; if not, then I’ve just invented one.

Take a look at the chart below:

Momentum is still strong with momentum indicators still point up and not yet at the over-bought level yet.

Fundamental speaking, $CERS is already selling their blood “cleaning” system outside U.S.  It is currently working with US FDA to gain approval for sales here.  As the sales start to grow outside US with the possibility of gaining US market in a year or two, the potential for $CERS will show in the price action sooner if not later.

Depending on price action in the near future, I’m still debating if I want to keep this one as a position trade.

My 2 cents.

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I like $DUST for its power surge yesterday and I think the run isn’t over yet.  I missed the chase yesterday and today retracement in the 3m chart gave me an opportunity for a bounce play with small risk.

I bought a starter position @ $103.xx and placed a stop below the recent pivot low.  See line on chart.

My 2 cents.

 

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Today was a day to roll-the-dice.

Market opened down and then forged ahead with a hiccup during the day.

Meanwhile, I was, again, shaken out 80% of my $GLUU position when it turned south on the get go.  Out of pure habit, I just dumped my $GLUU in block as price tanked.  Later on, when I wasn’t looking, price action took off to the upside.  Not to be cheated out of my position, I bought back 80% of my original position at a higher price.  I like $GLUU as a potential long-term position; but I’ve yet to make up my mind.  The future is all about tablets and mobile phones; I don’t see it any other way.  $GLUU is all about gaming in mobile devices.  The other side of the coin is that competition is fierce; nevertheless, $GLUU has a brand and experience.

I’ve a hard stop on my $KERX position and it was taken out.  Glad to rid of it ’cause I don’t like to see my swing trade position to be in red for too many days.

$MNKD finally made my “chase” two days ago worth the effort.  It took off big and I added more after it took out the $5 resistance.  When the normal retracement after the initial burst was done, I added some more in the low $5.xx area.  $MNKD is a high risk trade at this point for it is still waiting for FDA approval for its insulin inhaler.  This could be a big winner if they can get FDA approval; who want to use needle for insulin if they can inhale instead?

$FB is reminding me of $SZYM.  Price just would not take traction on the upside.  When price took out the low of two days ago, I put a stop below the intra-day low to cut losses if the bounce failed.  The bounce failed and I was stopped out.  Moving on.

$NVAX was also another one that went the wrong way.  Instead of putting a stop near intra-day low which would guarantee a filled, I decided to give this one a bit more time by placing a GTC stop below the trendline.  If it bounces tomorrow, I will be fine.

I was watching $AAPL waterfall and kept telling myself it was too late to short.  However, when price took out the 50% fib retracement, I decided to short since my risk would be above $425.00, a tight stop literally.  Well, to my surprise, price took out the $425 level and I was stopped out.  When price continued upward, I took that the $425 Fib 50% line support was still in effect.  So I bought some with a stop below $425.00.  By market close, seeing that price did not do a waterfall, I added more hoping for a big bounce tomorrow.

Well, $AMRN had a hiccup today and my portfolio suffered a minor bump as a result.  Oh well…  I can’t help but notice that my portfolio contains quite a bit of high beta positions.  Eventually, I will either get to see my stock god with my head on the block or sit on the white cloud with a big smile on my face.  Hmmm….

Current holdings:

AMRN, LRAD, TINY, CERS, MNKD, GLUU, AAPL, NVAX and 30% cash.

@tradingmy2cents

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

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$AAPL has taken out the Fib 50% retracement @ $425.00 instead of bouncing off here.  A failure of a Fib support is as significant as a bounce off it.  It may be too early to say that the 50% retracement fails at $425.00 when there are still time for $AAPL to bounce back up above that line.  However, any further drowndraft away from the $425.00 line will signify a Fib 50% support failure.

I’ve initiated a small starter position (using stock and put option) based on this thesis and will see how it fairs by the end of day.  If price comes back up above $425.00, I will cover and take my small losses.

My 2 cents.

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Today was a “gotcha” day.

Market opened higher and never looked back.

Out of the four chases I bought yesterday, $CERS and $CUR were doing good.  I took profit on $CUR when the daily price bar looked like a shooting star in development.  Although it hadn’t been confirmed by tomorrow price action, I decided I didn’t want to wait around for it.  So I took my money and run.  However, $CERS bar looked strong and solid; therefore, I’m holding this one.

Seeing that $MNKD and $KERX were struggling in the morning, I placed a stop losses order on both of them below the intra-day low for protection in case the downdraft persisted.  Fortunately, I wasn’t stop out for neither of them.

After browsing the charts, I bought $GLUU, $FB, and $NVAX for the swing trade.  By day close, I’m only taking small heat from these positions.  I’m going to give them a day or two to see if price action will take traction to the upside.

$AMRN, $LRAD, $TINY continued to rally onward; together with good price action on $CERS, my portfolio continues to march forward.

Current holdings:

AMRN, LRAD, TINY, CERS, GLUU, FB, KERX, NVAX, MNKD & 30% cash.

@tradingmy2cents

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

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$NVAX chart also shows a bounce after touching the uptrend line.

Take a look at the daily chart below:

Both momentum indicators are now point up along with the 5 ma line.

A bounce is possible at this point; hence,  I bought a starter position.  This is also my prefer play in light of the bird flu situation.

My 2 cents.

 

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$FB chart looks like it is making higher low if we can get a bounce from here.

Take a look at the daily chart below:

The over all trend is still up and a bounce may be in the card.

I bought $FB looking for a resumption of the uptrend to take out the high @ $32.51  established in Jan 28th.

My 2 cents.

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