Green day One trade One Winner SRPT

SRPT
Original risk was 30c to make 60 or more if fade to LOD, but it did not.
Friday again,  and I like to chill more on Fridays, more from a reason I don't want to ruin an OK barely green week , and have a nice long weekend.

                                                             SRPT plan to short 26.70

                           Partially out twice , did not have the fade I expected it to LOD

NOTE: When the prev daily candle is a red candle and today's open is  above the high of the prev red candle, that means there is a total turn around of momentum and trend. This may continue much higher, So stop loss is essential when shorting today,  unlike shorting the HPQ the other day , when I felt comfortable to wait till EOD on that short. SRPT could have easily been a runner to way over $30 today. But I took my chance based upon my signal to enter , and the plan as I tweeted the plan and the expectation on this trade. If trade doesn't do what I expect , there is no reason to stay in it , and to disobey the stop risk.

GLNG long SHAK HPQ AAP OSK short

GLNG
I was looking for runners with high momentum to short , preferably that ran several days, just happen to see GLNG with nice momentum on its first day break out of nice bullish daily flag.
So that was the reason why I decided to go long , although in my past experience more  of those trades do no work. We as humans we remember the good ones that may have exploded but we forget the ones that didn't work. But once in a while I give it try to see if that may have changed. The majority of the traders I know make  the money shorting. And when I started to focus on shorting I stopped the years of losing streak. In shorting I have one fixed known fact: There are longs who are in profits and they will take it soon or a later, When long , out of tons of break outs like GLNG just few will move higher. So how do I know which ones will? I DON'T . But it is a gamble that I take from time to time so be it.

                                      GLNG long break out with nice volume
My stop is wider here 49.50
....

GLNG as I have said before , longs break outs barely ever work consistently. They just really suck and to get that one runner like ISR or the PBMD yesterday I will lose on dousens of  others longs ..So is it really worth it longing ? Am I trading to  few bucks or to be right and get the glory bragging about one home run ?!? And what is really the worst I am seeing few other awesome shorts that I am missing just because I am in this long that shakes my emotional state of mind, and may just call it a day. So Let's hope this may turnaround using a wide stop

HPQ ss33.78
Shorted based upon daily resistance channel.
I could easily get out here with 3 to 4 cents loss ad re-enter again if drops 33.78 but I think it may just chop up n down here because ER is AH. So keeping stop at 33.92 and we ll see how it goes

                                                      HPQ  ss 33.78

                                                   HPQ took a scratch
SHAK
There are many strategies to make money trading stocks, longs short break outs pull backs, reversals , continuations e.c.t.
There are several strategies I use to short stock, my favorite few are these:
1) Overextended tickers, where I know there are longs ready to take profits after nice quick gains in short time ( example SHAK today)
2) A major resistance break outs that are actually a fake outs ( on those I lost tons of money going long and hoping to be right). These are the ones where lot of longs pile up buying the break out per all the text books  ( LOL I am laughing cause I was one of them in the past, reading books on trading)
Example GLNG  OSK today lower slides.
I can not emphasize how reading your own book of your own trading is the most important book I ever red and I am still READING it every day! My own PnL is the best teacher, trial and error , what I feel on my skin hurts the most and teaches me the best lessons ever. Hope some new traders can learn from my experience and cut the learning curve for many years of wasted time let alone the lost money .Karma !

                                                          SHAK

                                              SHAK when the timing is right
AAP

this Earning winner got too overstated , that usually fades before sees new highs

                                                             AAP

Few examples of fake brake outs here :
OSK
Notice the great daily bull flag, when SPY near historic high.
Great long right?
But what happens when there is a sign it may be a fake out?
Will you grab that opportunity ?

                                                             OSK

                                                            OSK

GLNG
Same as OSK
I even went long on this just to prove my point ( which is only my opinion , nobody has to take my word for it,  just judge on your own)

                                        GLNG long with wider stop

                         GLNG the losing long bull flag daily on SPY historic highs OK?

'Nuf said Yeremiya!!
Salute

DISCA STV AMCN

STV
I primarily look for overhead resistance as reference for risk to short.
When no overhead resistance, I'd rather see a nice push, by the longs who are buying, then some sign of momentum exhaustion, something that may indicate that enough longs have piled up, and that the probability to end the buying is higher, which may ignite some profit taking and selling.
I have in mind that  the final push up, is not always created by the greedy overexcited long chasers, but by the early short sellers who are trading on very tight stops.
So what happens is : the longs are maybe clever enough and almost getting all out, some early shorts get in, then some newbies longs get in seeing the move is big and do not wanna miss it, market makers trying to do their thing to make a buck, the early shorts getting squeezed, a little  panic and then when path is clear is time to short with weak glass bottoms. This is my opinion it is not always right which is mainly because of the longs who have no rational and who sometimes may overpower with the stupidity , it happens all the time so managing risk is a must.

And here we go typical example of the above :

                                                           STV the glass bottom

LBTYA
Im lagging on my  journal today was just too busy so many trade talks with fellow traders  . all good stuff.
LBTYA is typical example of daily resistance in play for risk on shorting against it. I will not feel sorry  or any regret on such short plays if I lose. Period. This is what I look for mostly and for me works just fine on long run after all hits and misses. Have no problem leaving smaller size over night ( any over night is 10th part of the entire trading acct , never more then that ). Example if I work with   $100,000 cash invested is only $10,000 on this short  , if $1,000,000 in play is only $100,000. If stock gaps higher I wanna be safe for such surprises. No high leverage, or one day I will lose all for sure , it happened and will not happen ever again, not doing the same mistake no matter how sure I am for the direction of my trade.

                                                         LBTYA  short 55.79

                                                     LBTYA Timing is everything
Had lot more nice trades nothing really out of ordinary worth repeating myself non stop

ASNA the stubborn short SWKS

ASNA
The main idea in my shorting is:  FOLLOW THE LONGS that are in serious gains from their swing long positions, watch when is more probable that  they are about to take profits , and the short when they are selling.
Well ASNA is none of that !
It had some crazy down move yesterday, so are there any longs who are willing to take profits today?
NOPE.
So it is just one of those days when I get stubborn and I just wanna be right. Why? Because I've done this before and I DID GET LUCKY BEFORE.
So just getting lucky on a trade is not a strategy. I will read this several times this week. Hope I get to learn my own lesson.

                                                   ASNA   1st short

                                                  ASNA  2nd short

                                                     ASNA 3rd short

                                            ASNA still short stop 15.00 over under

Some thoughts on the difference between long and short;
When going long on stock , and get stopped out, I more often lose the conviction the stock may go up again. Simply because I do not know who will be a buyer later on. However, when I go short on stock and get stopped out, the conviction that the stock will drop is just getting greater. Simply because  there are more long holders who have even bigger gains to take. I am referring this to stocks that are well overextended in a very short time, where the shift of the momentum can cause significant  panic among the long holders.

SWKS
Now this is risky trade since it is on yearly high, but calculating the risk is what makes this short doable.  I have the factors that I did not have in the ASNA, which is longs happy to take some gains. I am not shorting this as swing since it may gap up tomorrow knowing the market conditions but a momo day trade may work out ..we'll see...

                                                      SWKS ss 104.90

Red day today CBI TNK both shorts

CBI
I'm taking it easy when SPY is on historic highs and I'm thinking and wandering what do traders/ investors think being long on CBI and TNK..hmmm.
My guess is: Whoever went long on those tickers today they did it because SPY is breaking new  historic highs besides all the fundamental good stuff about those tickers. But what do the swing longs, who went long last week,  think ? They are up in gains big time. Are they going to be greedy and just hold after the already big move up in their favor, just because SPY is making new highs? It may make  a lot of sense , I 'd say. And I do not see a reason why would long on CBI  even get out if it holds 57.00 ? It is showing a great intraday support today , and I am short hoping to break that support. But why hoping? Why do I not get out and chill till it breaks if it does?
Got stopped on the first try 57.25 stopped at 57.58 for 33c loss.

                                                             CBI   1st short 57

                                 CBI still in the second short 57.21 , will wait till EOD daily res 58.15

CBI stopped second try for much bigger loss then really planned

The stop was based on the daily resistance 58.15. Normally my stops are much smaller then the planned stop.

TNK
I did wait for the TNK to break that 6.66 floor that is important level from last 30 days back , since it did not close above it, and today has a hard time holding above it, so it may simply not close above it again besides the fact SPY on historic high.

                                                        TNK short 6.66

                                                    TNK stopped with minor loss.

CALM just observing this do not wanna be short too many today when SPY is on new hist. highs

                                       CALM  59.74 the floor

                                                     CALM  broke the glass floor

                                                                       CALM  eod  WILL FIX THIS LATER

No strategy works all the time. But controlling the risk is all I can do. I did a poor job doing that today on CBI, bou overall I did not go crazy shorting left and right seeing the SPY making new highs, which is still a success being able to control the emotions and not to chase any trades.
There is always a new day , when the set ups will work.
Salute
Stay disciplinned

Green day 4 outta 4 bulls eye all shorts when market on historic highs AEM ACM CMCM OSK

AEM short 34.71 coverd 33.44 for 27 c gain risk 15 c
Self explanatory short from daily resistance

AEM

                                                                   AEM covered

AEM leaving money at the table

ACM short same as AEM

                                                         ACM ss 33.88

                                               ACM cover 33.60  for 28 c gain risk 12c

                           ACM probably will leave money at the table here too

CMCM short 29.49  cover 28.50 Risk 30 c gain 99 cents

CMCM is near to but not exactly to  major daily resistance . so I'd say riskier but stop is in place 

                                                    CMCM ss 29.49

                                                 CMCM stubborn longs 

                                           CMCM the cover for 29.49 to 28.50 

OSK short 55.16  to  54.80   Risked 15 cents for 36 cents  gain 

Last trade. I was hesitating to take it, I  wanted to have 3 clean winners but hey 4 is always better :)

 

                                                         OSK ss 55.16 

                               OSK cover from 55.16  to  54.80   Risked 15 cents for 36c  gain   

NOTE;

Not much to note here except the patience to avoid the not so good set ups. I waited to get the best ones and I did not rush to get in trade till I saw a good confirmation.

CSIQ FUEL JMEI AEM CSIQ ACM

CSIQ shorted twice
It showed some RSI divergence before it made any significant range today , which IMO means it may make the daily range either way: UP or DOWN so that's why the stop loss is  of big essence to me at least today. If breaks the daily low it may make much bigger drop , and will be nice short trade so I have a lot of patience for this short on my second try, while I did get stopped on my first try from the above reasons.

                                                                    CSIQ ss  39.30

                                                                   CSIQ stopped

                                                      CSIQ second short 39.41

                                           CSIQ  emotional roller coaster
Maybe a swing short ?!?
It has been a roller coaster from here , but one thing I am sure: I would not want to be long at these levels.
FUEL  shorted once :
This is typical example of stocks taking the stairs up and the elevator down. Definitely would not want to be long here either.

FUEL ss 9.57

I see potential of dropping to 9.00 today's LOD so I did not take any profit yet .

                                                               FUEL  

It is simple the daily over-extension and the daily major downtrend that makes me believe  this may drop lot more. Possible swing position. ?!?

AEM Short 34.55

I'd bet my life on this short , but I may still lose. We'll see ...

                                                               AEM ss 34.55

                                AEM  choppy no momentum but once it breaks it may fade all day 

JMEI short 26.46

Fake break down, fake break out, so took a chance to short after the fake break out. When this happens I know there are longs trapped and will look for exit somewhere here. I mean,  the same thing repeats every day in different symbols, not that I know who is personally long or whatever...I just keep track of all that,... and I take notes. 

                                                            JMEI ss    26.46

ACM short 33.32

                                                              ACM

                                                       ACM covered near EOD