Trade Recap 12/24/15

I only had a couple of things on watch for today and one thing I realized was if I don't know what to do with a stock then wait for it to pick a trend or have an opportunity for you. Otherwise, don't bother looking at it except for occasionally and focus on other plays. I will go into detail later on what I mean by that for each stock. But it is best to focus on what you know and what you have a plan for. As I said before, trade the best and fuck the rest. Another thing I will start to do more often and while I am making plans for the next day is think about what is happening with all the players of the stock: is it crowded? will there be gap sellers in the morning? do I want eager buyers to short into? etc. I will go into detail for this as well for each ticker. At the open until 10AM there wasn't anything that I was interested in according to my plan and what I prepared for so I went to the gym. When I got back, one play had done exactly what I thought it would have but I missed it and another setup in a way I could have taken the trade. I will go into that detail now.

ADMS: For ADMS, I was only interested in a weak open r/g or a consolidation and push. I did not want to short this since I believe it has a lot of shorts still trapped and from my memory most of these types of plays don't fizzle off the very next day and may have continued momentum, hence looking for a long only. My reasoning was either it would consolidate and hover and break out due to being crowded with shorts or having profit takers/gap sellers sell the open and then have them worked out of the stock and then have higher lows/channel to go long for r/g which is exactly what happened. Ideally, I would start long on the higher lows and add as $30 o/u holds.

RWLK: This is the stock that I was unsure of what to do with and so was waiting for any clear trend to form, which it never really did. Since it was an abbreviated day my go to idea for a late day fade for the stock would probably not work so thus I wasn't too focused on this. There was a trade I saw some take on the parabolic in the morning which I did not trade but in hindsight would have been nice as it spiked right into prior resistance with big volume.

CNIT: I saw this was holding up and did not want to be early shorting. Thus, I wanted to wait for $2.50s if they came. In the morning it looked like it had failed follow through so a short after the g/r fail would have been ok, perhaps. However, after a couple of hours it still held on and formed an ABCD and I noticed that right away but was too late as the push had already started. With it holding trend like this, I think dips to buy are a safer bet until some sort of squeeze/parabolic happens. It seems too crowded now with shorts trapped.