Trading Recap 7/31/15

Well, I didn't trade for the entire week, which is good and bad, I suppose. Good in the sense that I am being more patient and selective for setups that fit my criteria. Bad in the sense that there were very easy plays that I did not trade. I will have to find a balance but I think I am getting closer to having better entries and being overall more selective. I'll go over the trades I was thinking of taking today.

TASR: I initially wanted it to pop to 29 or 30 before failing for a short but that never happened and instead it just went lower. It was hard to trade it after the initial drop since there was a wide stop and it mostly just kept going lower. Later on, it formed a base and I thought about shorting the base break, which worked great yesterday on it. I put in an order but didn't get filled and while I thought I missed the move it came back and I put in another order that didn't get filled but it just held, so I waited and it ended up just consolidating before going higher. So, it was fortunate that I didn't get filled although it would have been a breakeven trade or a slight loss.

MDVN: I thought this would be a good short since it wasn't on anybody's radar and the reason it was up was just because of a stock split. I thought that people might have chased it because of what happened with NFLX but this stock doesn't have that sort of momentum. I thought about shorting but it wasn't a clear setup so I avoided it, which was good. Later in the day it formed a base and I thought that would be a good short. I'm not sure why I didn't take it but it doesn't matter since it didn't do very much.