Plays for May 31

Two longs and one short on tap.

Long CUP 4.81

Long JSDA 18.59

Short EMIS 3.95

Chasing momo:
JOYG in 52.84 still holding, started retreating right after entry and bottomed at 51.96 almost hit the eject button but it climbed above 54 which gave me a chance to put in a stop trigger at 52.99, came within 0.11 of stopping out shortly after I left, stop reset tonight at 55.19

NOVC in 11.13 out 11.30 trailing stop way too tight, ten minutes later came a huge volume spike and I jumped in again at 12.19 and in one bar cleared 15 and stopped out at 15.60. What a rocket ride that was, even though execution was not flawless, can't complain too loudly about the biggest winner ever that took only fifteen minutes.

Will try to recap the missing days this weekend.

Plays for May 24

Two longs and one short for tomorrow.

Long OMR 6.68 hard to say how much the sunken treasure is worth to the company but shares continue to sell off

Long ABAT 2.23 otcbb, sell off after the good earnings report last Wednesday

Short GPIC 14.28 talk about reversal of fortune

Recap:
XFML reached high 7.70 but ended -0.1%, maybe be bottom here , keep an eye on it

PCSV +11% gap up open not playable

Chasing momo:
CGPI in 11.41 out 11.54 popped on no news so the move was sold back down

SPC in 8.48 holding as it appears to breakout on the daily

ARAY in 24.99 out 24.58 entered near the high, tried to exit with a limit order 24.65 but didn't fill

JDO in 1.86 out 1.79 didn't get filled on limit 1.83 exit, it reversed and ended 1.95

One win and two losses did not make for a very good day.

ESRG dropped from 2.42 to 2.17 in a matter of minutes, reversed and ended 2.35, looks like another rinse job, will be looking to sell off a partial soon to lock in some profit.

Plays for May 23

Two longs on tap.

XFML 7.10 looks pretty sick

PCSV 1.52 otcbb pumped couple months ago, may be in dump phase

Chasing momo:
SPSN in 11.89 out 11.65 bought 3 minutes after the open is the wrong thing to do, should wait 15 minutes.

DNDN in 7.16 out 7.13 it did not pan out

ITW in 52.40 out 54.28 a tad slow entering, trailing stop worked good

CRNT in 8.68 out 8.56 didn't work

PEIX in 14.47 out 14.40 bailed pretty quick, I had to leave so didn't want to hold any longer, didn't really run afterwards.

One win and four losses is not a good day.

ESRG volume double yesterday, promo mailing must be working

Plays for May 22

No bounce plays for tomorrow.

Recap:
XFML never went green down another 13.7% , the bad new must be just awful

NPLA ended about even after going back and forth all day

Chasing momo:
LUNA in 5.49 out 5.71 entry was late, had to endure 15 minutes of gut wrenching hold and hope before it reversed and went on to new high of 5.91, 2% trailing would've been 5.79 but I was not quick enough and left 0.08 on the table. Overall not that happy with entry and exit was just so so.

DNDN 6.78 out 7.01 entry was almost perfect and exit on 2% trailing. Happy with execution.

DVR in 15.45 out 15.28 entry at the very high of day, bailed to cut lose when it didn't perform. This one was wrong from the getgo, there was no volume spike with the price pop, should not have played it, lucky to get go out with just a scratch.

NVDA in 35.82 out 35.64 there was no follow through after the pop on stock buyback news. Exit was executed properly when play did not materialize.

DRCO in 13.70 out 14.44 very good entry and 2% trailing stop was better than expected. Very happy with execution.

Three wins and two small losses resulted a pretty good day. I scaled back on position size, stayed away from distractions, slowed down and recheck order enteries, stayed pretty calm on the whole except for a few moments of stay and pray with LUNA. I will exorcise the demons and get my mojo back.

Plays for May 21

One long and one short.

Long XFML 9.94

Short NPLA 1.32

My ESRG guy told me earlier in the week that the promo mailing will be out this weekend and when I got home last night I was floored to find in the mail a one page promo piece. Don't really know if this one page will generate the same response as the mini-magazine type promo piece that TUBR got. Russell related to me that after he got the TUBR piece he actually was compelled to go to their website to check things out, that's how good the piece was at generating interest. Why they didn't spend a little more on a more compelling promo piece is beyond me. Heck, even I could'a put together a more killer one. I really shouldn't pass judgement so quick until the dust settles next week. My plan is to ring the register if and when it reaches 3.

OMR should run some more, will be on the CBS Morning show followed the Today show.

Plays for May 18

One long and one short on tap.

Long TEXG 1.95 otcbb huge runup couple a weeks ago from 0.40 to over 4 bucks, no news out to account for the recent selloff so it's just profit taking

Short CVTX 11.28 hard to tell which way it's going to go

Recap:
NTRZ openned gap up and went down from there, finished about even

RPTN was playable, got as high as 1.40 finish +2.7%

Chasing momo:
YHOO got stopped out from yesterday -0.40

ONT in 3.88 out 3.78

CVTX in 11.23 out 11.32

NVTL in 21.15 out 21.01 got in way too late after gap up open

LXK in 56.78 out out 55.43 got in too late

TTGT in 15.14 out 15.16 new ipo, good thing I was able to set stop trigger at even

DUSA in 4.76 out out 4.37 and 4.46 got in late and started to tank immediately, should've bailed with a stop but didn't, down to 4.20 and came all the way back to a high of 5, I was selling on the way back up, feeling was may not get another chance to sell, that it would tank again.

CAAS in 8.40 and set a sell trigger to lock in profits at 8.71 but inadvertently set a buy trigger and ended up with another position as it continued to slide. An hour went by before I realized what had happened and sold at 8.34. What a mess that was, turned a profit into a double loss. I've never had some many order entry errors as these last two days, something is seriously wrong.

OMNI in 10.39 out 10.43 moved stop up and got shooked out

ANPI in 7 out 7 spiked but didn't run , got out even

ESRG bought a small position 2.02 after the rinse out early in the day.

Today was another disaster. I better stop chasing momo for a while and get this evil thing or whatever it is out of my body that is making all these order entry errors. Good thing I got a big job tomorow to keep me away from the slotmarket for most of the day.

Plays for May 17

Two longs for tomorrow.

NTRZ 3.72 otcbb

RPTN 1.19 otcbb

Recap:
TNH open gapped up and never got filled finish +6.2%

WHT never green and tanked some more

Chasing momo:
BCSI in 40.18 out 39.57 got in at the top, cut loss pretty quick

TBSI would you believe I put in one too many zeros, bought 5000 instead of 500, filled 24 market orders from 21.18 to 21.49 and it started to tank immediately, by the time I figured out what my error was, I was in a deep hole, almost got a margin call. I started selling 1000 share lots starting 20.36 up to 21.04 just so I could get it out of my system. If I would've just held to the end I'd been ok but the slotmarket gods would not let me have it any other way. This will set me back a couple of weeks. Hopefully not much more.

DNDN in 6.099 out 5.79 bought 150 instead of 1500 , what the heck was wrong with my fingers today, the mistake on this one saved me a ton of money.

ONT in 3.26 out 3.43 can't believe I did something right for a change.

YHOO in 29.35 volume came in near the close, holding overnight for a bounce play , will set stop trigger 29.08 just in case.

Plays for May 16

Two longs for tomorrow.

TNH 77.90 20% haircut last two days on profit taking after huge run

WHT 2.56 down 20% last six sessions no news

Entered trigger to buy TNH at 78.05 stop 76.95

Today's recap:
MAMA got stopped out for a lost of 2.4%

VGZ +5.8% second guessing the filter doesn't pay, The Filter Knows.

I really should have more confidence and play all that the filter kicks out.

Chasing momo:
PRST out 7.80 leftover from yesterday

ONT in 3.15 out 3.05 ouch, tighter stop would've been smart

AVNR in 2.70 out 2.93 nice trade, in a little late, exit not bad, can't remember if it was loki's call or not have to review log, may of been my call

MODG in 2.13 out 2.27 merger that started trading today at 1.50 saw it earlier but didn't know what is was that's why got in little late but exit was big blunder, high at 2.50 prior to exit, a 3% stop would've got me out at 2.43, left at least 0.16 on the table, it eventually came back to finish at 2.63. Not happy with how I messed up on this trade.

MNST in 47.19 out 47.21 spiked on same old takeover rumor, started to tank so decided to get out breakeven.

CHAP stopped out 73.02 finished at 71.20 down 4% so the stop was a smart move. Bought it 70.99 on 4/30 for a gain of 2.03

Plays for May 14

Two longs for tomorrow.

MAMA 4.50 hit by earnings

VGZ 6.52 merge with another company, reorganization resulting in mispricing, not good

Trigger to buy MAMA 4.53 stop 4.42

Recap:
CRYP opened gapped up, trade didn't execute, up 4.1%

GLBC -3.2% good thing I didn't do this trade, opened green for 40 minutes and went downhill from there.

Chasing momo:
GERN in 8.16 stopped out 8.20 good entry but stop too tight was a mistake, reached high 8.78

PIR in 7.73 out 7.74 didn't run

CAAS in 8.02 out 7.44 Ouch, bad trade all the way around, failed to put in stop was the major blunder.

PRST in 6.50 out 6.69 didn't sell one third by accident, luckily it closed 6.82, got in 4-5 minutes too late, exit wasn't too bad. Entered trigger sell 6.79

CLZR IN 11.70 out 11.50 was moving up too fast for a good entry

Today would've been a push if it wasn't for the CAAS disaster, not happy with my performance at all.

Plays for May 14

Two longs for Monday.

CRYP 23.28 hit by earnings

GLBC 22.94 hit by earnings and downgrade

Entered trigger to buy CRYP at 23.32 stop 22.74

Friday recap:
DNDN +10.3%

CCRT +1.2% I got 0.36

SOMX +5.4% I got 0.75 got lucky again as it zoomed the last 15 minutes.

CRIS +2.1%

I didn't play all four because I didn't like the chances of DNDN and CRIS, well just goes to show you, it works better than you think, don't try to second guess the filter just do it. With my stops in place I'm not going to get killed if one doesn't work but not playing when I should, I'm paying opportunity cost, missing out on some big winners as my lousy luck would have it. Yep, it's me getting in the way of my success again. If I can automate the entire process I'd be way ahead.

Chasing momo:
NABI in 5.51 out 5.34 bought at the top of the initial spike and there was no follow through, might be a good idea to bail if no continuation after 30 minutes don't wait til it hits 3% stop, just bail right away. Even if I waited to get out an hour later at 5.45 that would only have been a 0.46 hit.

BIOD in 17.57 stopped out 17.61 got in late and it didn't go anywhere after.

ONXX in 30.23 out 30.31 late to the party again.

The NABI hit wiped out half my day's profits, not good.

Overall a profitable week in spite of my blunders.

Plays for May 11

Five longs for tomorrow.

DNDN 5.54 FDA wants more info

CCRT 33.22 hit by earnings

SOMX 14.39 it's new drug application delayed

CRIS 1.42 been going down for a while

CFUL 2.81 otcbb again, from today

Entered trigger to buy CCRT at 33.26 stop 32.60

Entered trigger to buy SOMX at 14.41 stop 14.12

Today's recap:
BRNC was up for over 2 hours before the market down draft took it down along with everything else, lost 0.03

SIGA stopped out for a loss of 0.07

CTSH acted very strong, green from the start and finished +0.5%, moved stop up to slightly above break even and covered commish. May run under better market conditions so keep it on watchlist.

Lesson learned is when the whole market is tanking big and you have a winning position, best to tighten stop to breakeven or better instead of a 2-3% stop loss because the sinking tide will take down all boats.

Chasing momo:
VII in 9.60 out 10.43 caught the earnings release spike, perfect execution both entry and exit.

MAMA in 5.45 out 5.45 was underwater until the last hour and broke even, got lucky again because earnings released afterhour and it tanked.

TEXG in 3.13 out 3.26 from loki's headsup, awfull execution, all set to enter on a cross of 3 but didn't get in til 3.13

Plays for May 10

Three longs for tomorrow.

BRNC 15.75 missed earnings

SIGA 3.99 conference call must of sounded bad

CFUL 3.12 otcbb

Entered Trade trigger to buy BRNC at 15.80 , stop trigger at 15.49

Entered Trade trigger to buy SIGA at 4.01 , stop trigger at 3.94

Watclist:
CTSH 79.70 deeply oversold, RSI(2)<1, down 8 days, printed a doji star pattern today, enter when green

Today's recap:
IDMI plunged after FDA rejection

ENTG never fired green

DIO +2.5% not playable

NNPP +4.5%

Chasing Momo:
FFIV in 49.01 stopped out for a nickle loss

Plays for May 9

Four longs for tomorrow.

IDMI 4.00

ENTG 10.37

DIO 1.18

NNPP 1.57 otcbb


Recap:
ADBL +2.6% , trade entered 9.04 exit 9.24 , made enough to cover the Tahoe trip.

EEE -0.7% no share available to short.

Plays for May 8

One long and one short on tap.

Long ADBL 9.01 sold off on earnings which didn't look that bad imho.

Short EEE 7.70 could find no news to account for the recent run up.

Entered Trade trigger to buy ADBL if and when it trades at or above 9.04 , stop trigger at 8.79

Entered Trigger to sell short EEE when it trades at or below 7.65, stop trigger to cover at 7.88



Today's recap:
CLRT +3%

Here's the stockfetcher.com code that I'm using for the bounce plays, originally created by stockmonster. At the core is the two consecutive days of big drop in price which sets up for a bounce. The validity of this pattern had been well documented by such respected sites as http://tradingmarkets.com/

The reverse for going short works equally well, just flip the appropriate lines of code around the other direction.

Two year back test periods going back five years produced 63% win percentage, 689% ROI, using no stops , one day holding period, buy at open and sell at close. Some may argue what may have worked great in the past doesn't mean it's going to contine to work in the future. There is no guarantee that anything is going to work tomorrow as well as it did yesterday. We can only answer definitively the question of whether it worked today and I'm documenting that on this blog.

Here's the goods:

show stocks where count(RSI(2) 2 day ago above 90,60) is above 0
and RSI(2) is below 20
and average volume(10) above 250000
and close one day ago more than 8% below close 2 day ago
and close more than 4% below close 1 day ago
and close above 0.99
and 60 day slope of close is above 0
and market is not otcbb

Plays for May 7

One long and it's
CLRT 1.95 got hit by bad earnings.

Recap:

KDKD +13.7% whipsawed in the first half hours and would have got stopped out had I played this one, but went green the last hour.

NNRF +18.2% went green at 1 pm and never looked back.

ITLI -5.7% never saw green.

2 out of 3 for the bounce filter today.

MNST stopped out 47.14

MDII +10.6% on news release near end of the day and it just ramped. I'm going to put in a Trade trigger stop to protect profits since I'll be in Tahoe Monday and Tuesday.
I should do the same for all my current holdings.

Momo action:
Went for EVCC 2.14 again, computer froze right after entering and had to reboot which took a looooong time. By the time I go back on the thing had plunged but it slowly worked back up to the point where I was only down 200 at which point I should've put in a stop but didn't, f(rozed) up again, and it tanked from there and finished at 1.84. In hold and hope mode but better put in a stop to limit further damage.

Plays for May 4

Four bounce plays on tap for tomorrow, all otcbb so Trade trigger are not available.

KDKN 2.77

NNRF 4.99

ITLI 1.59

RRPH 2.14

Today's recap:
ACUS +1.1% took the trade and covered commish was all I could muster.

ROCM +6.2% why didn' t I take this one is beyond me, looks just like yesterday's SYNL.

CPNLQ +7.7% got in 2.74 and out 3.12 too bad I had to leave to go do some rugsucking so had to cut it loose, actually got as high as 3.32 , left at least a dime on the table but can't complain too loudly.

RPTN -1.8% actually got as high as 1.72 before going red the last hour, didn't take it.

CYRX +3.2% whippsawed 4 - 5 times , good thing I didn't take it, would've been stopped out.

ACEN +14.7% gapped up open so wouldn't of been able to enter according to plan anyway.

That's 4 out of 5 winners for the bounce filter.

Today's Momo:
TYTS in 4.87 out 4.53 ouch. Couldn't cut it loose when it started tanking, I felt like a deer in the headlights. If I keep this up I'm dead meat. Ok, plan is to put in 3% stop using Trade trigger immediately after entering. I really need to get it in my numbskull that losing 3% is better than 10%. Repeat like a mantra, losing 3 is better than 10, over and over until it gets imbebded.

MNST jump 8.8% thanks to Cramer pumping the buyout story on TV, it'll prolly sell off tomorrow so I've entered a Trader trigger to sell if at or below 47.79

SPC popped 9.6% no news that I could find , I'm up 28%, too bad it's only a half position.

MDII up 6% put me in the green 2% from down 20% another back from the grave. Daily chart looks really good, strong uptrend, will ride it til stop out.

CHAP up 3.5% today getting me in the green.

CYPB I'm down 5% , resistance at 9.20, should prolly take the hit and move on if it goes down tomorrow.

Plays for May 3

Six bounce plays on tap for tomorrow.

ACUS 2.70 bad results from a Phase 3 clinical trial.

ROCM 17.09 earnings turn profit, looks like sell on the news.

CPNLQ 2.86 otcbb profit taking after big run up.

RPTN 1.66 otcbb

CYRX 1.88 otcbb

ACEN 1.09 otcbb

Today's action:
SYNL +4.9% my trade was good for +1.76

BIF +4.8%

WFR +5.9% bounce play from yesterday, pays to follow these a few more days as some will fire.

Momo action:
EVCC in 2.05 out 2.18 was a continuation of yesterday's huge move, called out by Muddy.

TSYS in 4.25 out 4.60 net +0.35 nice one.

ANPI in 6.10 out 6.37 net +0.27.

TTMI in 12.04 out 12.03 got out near breakeven.

NHWK in 21.45 out 19.83 net -1.62 ouchy, it was a fake out move and I made every mistake possible, go in late, didn't put in a stop, must of been brain dead. Why can't I put those stops in on every trade? Maybe I need to go see a shrink or something.

Sold NXXI from Monday 2.03 lucky to have made some pocket change.

Did pretty good for the first full day of momo chasing with the exception of the one blunder. Need to be a little quicker on the trigger, hesitation need to be eliminated, and put in stops immediately or else I'm going to get hosed again.

Plays for May 2

Two longs for tomorrow.

BIF 11.70 a closed ended fund, down on some kind of offering that I don't fully understand.

SYNL 35.65 down 16% last 3 days no news, profit taking most likely, good chance for bounce, strong fundamentals being a top IBD stock, in strong uptrend.

Trigger set to buy SYNL if and when it trades at or above 35.70. Stop Trigger at 34.49

Today:
WFR did not trigger a bounce.

Bought CYPB 9.64 from Market Monitor, got as high as 10.23, closed at 9.18. I need to set stops on these. Got in way too late. At breakout level on daily.