13 [Finally getting some traction in the protfolio! Oct 21, 2019]

  • MIK I bought 20kshares near the open at 10 avg had some slippage from 9.90. Been building hls for over a month.
  • ACAD bought 12kshares at 41 avg. Wow having nice follow through, I prob should have bought a bit earlier but kinda missed entry, looks good had some nice data month ago, then kinda faded a little bc the market was so poor, but it’s been holding up well, found support at this rising 20day and now it’s surfing the rising 20day, put in a little bit of a flag formation and now it’s breaking out of it. So strong, this is how a good breakout looks, so strong, you feel like you’re chasing it then it just keeps going higher on big volume, this is an erection candle.
  • RETA shorted some 184.70 avg, got in a little bit late, should have been in from like $1-2 higher but was a little bit slow. Dipped a little bit and kinda held the rising hourly 10ema, very strong, thing is this thing is up 8days in a row and it’s up 132% in 8 sessions, it’s gonna have a red day eventually, question is if it’s today. I’ll add to this thing, I did short some more on this pop since I got a sh*tty avg from the beginning. I lightened up on this RETA, it retook vwap, I don’t wanna be short above vwap. I’m stalking for a potential re entry, so it reclaimed vwap and if it starts putting in lhs and looks like it’s gonna reclaim below vwap again I’m gonna add full size, all depends on the setup. RETA ok now it’s retested its vwap now if it can bounce back to like bit 186s or something put in lhs, that’s when I’ll be looking for a potential re entry.
  • RETA Not bouncing, I’m gonna put in an order at 185 hopefully it can at least bounce there. RETA reclaimed vwap again, gonna use this 187s as stop for adds, 188s for the rest, kinda choppy rn. So far it has put in 3 lhs on the 1min, but there is no setup to add yet, from now on I’m gonna look at it on the 5min bc there’s too much noise on the 1min. It’s down like $4 from the highs, I wouldn’t be surprised if it fades another $5-7. Just took out vwap again, I put in another short order at 185 bc now it has definitely set in 2 lhs on the day.
  • RETA there is some support at 180 this hourly 10ema that has acted as support this whole run, and the second support is at 172 the 20ema, I think there could be ten dollars of downside easily, but I don’t think this is gonna fade back and give back all it’s gains this is the real deal, this is not a pump like these microcap names, this is a real mid cap stock, a real stock with real data and real funds buying. Gonna cover some tiny now it’s fading, also gonna try short some more pops back to vwap. RETA now it faded off this vwap again, now starting to look even weaker couldn’t even touch the vwap, these two previous times it overshot through vwap and now it kinda faded before even hitting vwap, that’s a sign of weakness that’s what you want to see. RETA has built 3 lhs now and it’s below vwap, this 182 is a big area if you look at the 5min chart been riding this 65ema for a few days now, this 182.30s break looks like a big level, if it can go sideways a few more hours and then break down, that’s gonna be a high conviction trade for me.
  • PETS had earnings, very beaten down stock past couple of years, still sh*tty earnings but looks like there’s a turnaround coming potentially and beat estimates that’s why thing is up, entry was orhs, may be a secondary entry when it takes out hods but idk not so sure about this thing.
  • SGEN biotech met primary endpoint but I usually don’t trade these things. If you look longer term chart this thing has been building hls for like 3years and now took out a bit of a range, sideways for a year now it’s going higher, could be a potential multi month hold. But again I don’t see an edge here really, biotech news I have a hard time having conviction on those things, usually have a better conviction on earnings.
  • OPK another primary endpoint met, does look kinda good. about to retake it’s 200day.
  • SLV looks really good, just broke out of a bullflag, same thing with GLD but hasn’t broken out of its range yet.
  • IGV great follow through from my short Friday orls 210s, great great follow through.
  • RAD another beaten down stock and now kinda bottoming, building a triangle pattern here off the lows, just below it’s declining 200day which has been a resistance area for at least 3years.
  • Main things look for earnings, so when you have these longer term charts when you have a stock that’s been going up for multiple years then going sideways for a long time, like MELI Feb2019, then it had a big beat, decent growth rate and big estimates, had a big earnings gap up above this range, you can find good r/r trades in these things. When they take out long ranges, a stock that’s been in a long term up trend, has been going sideways for a while 6-12months or more, then they break out on big volume, earnings beat, nice growth. These things you can trade for the longer term and trail the stop.
  • You only need like 1-2hrs per day, to be around maybe an hour before open to about 30/60mins after market has opened to trade these things, bc most of the time you find them ah and pm, especially the mid/lcap bc they usually have a lot of volume pm and ah. You scan for stocks gapping up on volume ah and pm, then look at growth, analyst beat and a nice looking chart, all you need is to find 1/2/3 per earnings season that you trade well and that’s gonna pay for so many losers. I usually do 10/20% of my account into a good earnings trade but you could do more or less, it’s all about what you’re comfortable with and how confident you are in the setup.

#ep #earnings

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