CLCD: I had this on short watch ideally. I figured people would chase this up and then any good pattern I saw I would short. So it tried to breakout to 25 on volume and then had a lower high on vwap. It looked good so I shorted. 3 minutes later I was out with a nice profit as it flushed out. I will admit I debated with myself a lot before getting in on whether or not I should but I just went for it. I honestly thought it would consolidate for most of the day and trade in a range as shorts and longs battled but it just consolidated and had some nice lower highs near the lows. At the end of the day I thought about shorting it again for the breakdown because it looked very good and had a few failed bounces. Once it broke down and was testing LODs I thought about it but again I figured that things would just consolidate. I had no expectation of it unwinding $2 in a couple of minutes. While the trade would have worked fantastic, shorting breakdowns like this have screwed me before. It was low risk though but I didn't want to bother. So while it could have worked and I would have given it tight risk, it's ok. Perhaps I will use more discretion when to short these types of moves and when not to.
AGIO: I had similar short biases for this stock. I saw that it brokeout then came back down and made lower highs. I shorted and when it peaked vwap I added in. I covered around that area because the bids kept absorbing and that flush was on big volume. The reason I didn't take that flush was because I thought it could go lower still after consolidating underneath vwap. It was a good cover because it made new highs after that. I have to remember that in the morning there will be gap sellers and if they exhaust I have to see what will happen afterwards. After it went higher, I noticed CELG didn't do anything and the news didn't seem like a big deal. Of course it could have gone up the rest of the day but after I saw some fake breakouts I wanted to short the lower highs but never did. Mostly due to fear I guess but I may have had a reason during the moment. It would have been a nice trade either way and while it didn't make new lows there was still profit to be had. It made a nice ABCD later on.
RTRX: I had the same idea on this as I did the other ones. I was thinking about shorting it when it was under vwap in the morning but decided against it because I thought it could run a bit. On the vwap reclaim maybe I should have went long but it's ok. It had a decent stuff so I shorted after it and it dropped a bit but then caught itself with a huge absorbing bid at .50 so I got out. It ended up going a bit higher but then it fell and started to peak 23s. At the time I thought it was a bear trap and wanted more confirmation but that would have been a good short.
WATT: I was interested in this from the morning and never got an entry I liked in it. I had a feeling today would be a good day with the Apple event and the pump finally being over potentially. It ramped back towards vwap and then dropped below. I got interested here because it never got over vwap and then under it again without fading further in the past few days. I tried getting filled at a few spots but eventually just got in. It flushed a lot but I wanted to be patient. I figured people would cover and then it would continue higher. I added on the bounce back up because I figured people had covered. I didn't expect it to go a lot higher though so I had to cover out for a loss when I was originally up a ton on my original shares. It chopped around a bit and after having a lower high I said ok now everyone who was going to cover is out. So I got in again and I got a nice wash. While I wish I was more patient and had more size of course this time around, I really liked the fact that I analyzed and came up with the idea here and executed. I covered because 16.75 bid kept absorbing and figured it might need to go up again before potentially coming back down. It bounced a little but it ended up going lower. I should have been up a lot more on this but it's alright. At least I was profitable in it and took a shot vs. sitting it out and watching it go down without like in the past.
Things to remember:
1. Keep the big picture in mind unless it is a scalp. This should be known beforehand.
2. You used the 2min chart more than the 1min today - maybe switch to that.
3. You were profitable today because you waited for the setup instead of jumping in right away. Like on RTRX under vwap, you thought it would have to go higher before it came back down. Unless the stock really shows you otherwise, your way or the highway.
4. Use discretion when shorting breakdowns/buying breakouts.
5. Remember gap sellers on these types of plays and what happens after they exhaust.
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