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Monday, July 27, 2015

Trading Recap 7/27/15

I didn't take any trades today as I am just going to be ultra-selective in my plays. Unfortunately, it wasn't a good start since a lot of plays such as MNOV I completely missed but at least I didn't lose, I guess. I'll just recap some of the charts/stocks I was looking at.

ITEK: Only trade I saw was in the morning when the SSR turned on for a long into the inevitable ramp up. I didn't take that since it was high risk. Other than that I guess a short later on would have worked but to be honest that is in hindsight and it could have easily ramped back.


MNOV: I originally thought people would chase this thinking it would be another ITEK and then it would be a good short. I saw the lower high in the morning but wanted to wait for the backside. Unfortunately, the backside came when $5 peaked and I was looking for a more definitive retest to get short on. It just sort of peaked there with the 1min candle vs. making an actual lower high there. I didn't want it to reclaim on me. The thing is though is that on the 1 min it looked like it had a higher low and so even after $5 didn't perfectly peak out, I still didn't want to get in because I thought it could go back up. If I switch to the 2/3min chart, I guess it would have looked OK but I am not sure if I would have shorted knowing what the 1min showed.


TEVA: I was short biased due to always wanting to short the acquirer (like CELG) and was thinking of shorting at $69 which was the premkt support. This would have worked for a bit before it came back and reclaimed. I was eyeing it later in the day for 69 to peak but it never did.


OGXI: I saw this was gapping up in premkt and saw no news and no one mentioning it on twitter so I thought this would be an easy short. I saw the descending triangle forming and I was going to short but my trading buddy got me out of it. It probably would have been a slight win/breakeven trade in the end so it wouldn't have mattered. I didn't see later on that it reclaimed and held trend otherwise I might have went long for an EOD rip.

NYMX: I thought about shorting it around 11:25, which would have been ok for a scalp. It ended up coming back later in the day but it got stuffed and fell further.


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