Trading Recap 6/26/15

I didn't make any trades today although I tried to get filled on one that would have worked nicely, but at least I didn't lose today. I just wanted to make this post to detail some of the trades I wanted to take or were looking to take but didn't.


MU: I was originally looking for a bounce with a higher low for an SSR washout but then I thought about it and the price action looked weak and I thought this is the day where all the funds that bought this when it was $5 have a reason to sell so I thought they would keep selling and it would be weak the entire day. I was looking for it to peak 20 to confirm and it when 20 snapped I looked for the retest and fail. I would have tried to get in on the 20 break but with the SSR I am more cautious. It did retest though and I tried to get filled but didn't so this trade would have worked nicely.

NVAX: It looked weak off the open and it looked like it was peaking at the support from yesterday so I was thinking about going in. It worked for the first few minutes but then came back. Had I waited for nHODs it would have been worse vs. taking it off prematurely so I guess it is a mixed bag when it comes to patience and giving the trade the room it needs. This probably would have ended up being a loser for me.

WWWW: I saw this had a nice green candle the day before and was looking for a weak open r/g. I saw a consolidation forming and decided to go long if it broke. It ended up going by one cent before going back down and it didn't really do anything for the rest of the day.

CBLI: I wanted to take this long for a bounce off the big support around 5.40. This would have worked and it went to 6 and got stuffed. Maybe I would have sold out there, who knows.