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Tuesday, December 29, 2015

Trading Recap 12/28/15

Today was the day I broke my 2 months of not trading... and it was a breakeven trade. It only cost me some commission which I don't care about. Not much else to say so I'll go into what I was looking at and the trade I took.

White arrows are entries followed by exits. (Wow, haven't had to mention that in a while.)

VRX: I saw the stock tanking and saw that it was sort of basing around the lows and had lower highs. I think a lot of people were trying to bounce it so there might have been trapped longs and it looked very heavy. After it started to peak at the prior base, I shorted on the retest and pop due to the SSR being on. Right after I shorted it washed a little but then it spiked back up and I was ready to cover but held on because I didn't want to top tick it like I normally do. I saw the big volume on the spike so that gave me pause in covering. It ended up coming back down and it then it just consolidated and chopped around and did nothing for a while. It looked like it was going to curl upward so I took the chance to cover for breakeven and it then made new lows before promptly spiking all the way back up. So it is really a toss up as to what would have happened had I not covered for breakeven because I probably would have stayed patient on the wash and then when it spiked up I would have said wtf and had to have covered at a loss probably. So overall it was ok but the entire time it traded inorganically and felt controlled by institutions/algos so that was another reason why I covered for breakeven when I could.


ADMS: I was looking for a weak open r/g move as I thought shorts were still trapped on the huge move and from what I have seen with other stocks who have price target increases on moves like this, they continue to drift up for a few days at least. I wasn't paying attention to this due to the low volume but it had a perfect reclaim and higher low of the support from the prior day and that would have been a nice entry, just like it worked the prior day. It had a nice parabolic and I saw it going towards that $32 level and I thought well I would definitely sell here if I was long. I didn't think about shorting it since I thought it would dip and then continue higher. I saw modern rock shorted it and it was definitely a good call since it retraced most of the move up. The volume was definitely an indication of a possible top but I obviously did not expect it to retrace most of the move.


ROVI: I'm not sure if I was looking at this for a long due to it consolidating for most of the day. I was probably looking for an EOD run but it started at 12:30 instead. After it ran for a bit, I saw it parabolic and get rejected around $18 so I thought about shorting but didn't want to since it had just come from consolidating and it was after 11AM. I guess since it parabolic'd it was ok for a scalp but I didn't think it was worth it. It washed a little bit but it held trend and then made new highs but stuffed and just consolidated.


FXCM: This wasn't shortable at Suretrader but towards the EOD it had that looked that it was just going to fade off so I wanted to make a note of where I would have shorted. This looked similar to VRX where it looks weak/heavy and it starts to make a lower high before the real drop.


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