SCLN Closed Out

I closed out this afternoon at $4.0101, too big of a run to not have a correction.  Its basically gotten back to where it was before those two bloody days, not really feeling like risking the profits.

Been Busy

I have been really busy with work, and haven't been able to post updates etc, so here is quick logging of some trades I've made:

ASTC

I made a stupid, stupid entry at $2.66 thinking it was sold off way too much and it was more out of boredom, I had no analysis as to why to enter here, and had no stop loss entered.  Tanks to $2.26 on that bloody Thursday/Friday last week, I pick up more to average in at $2.46.  1200 at $2.66, 1200  at $2.26.  Sold at $2.57 on Monday for +$222.  This was a horrible trade and the sell was even more of a 'get me the hell out of this'.

SCLN

I need to post a chart to give me better analysis, this was also another somewhat ill-conceived trade.  I had an alert for this at $3.51 on some support I drew up long ago.  I watched it intra-day and it looked like it had bottomed out at $3.36 earlier, so I bought when more support was forming at $3.48.  Still holding, as I watched it drop to the $3.20s.  Again, no real hard analysis on this, just saw it was incredibly oversold, and hitting my support range.  So I bought 1000 at $3.48.

TLR

I should have sold this one off, but considering I locked in some profits on it already, I felt it was okay to give it some time to consolidate and it actually held up pretty well during the huge sell-off.  I again have no plan of action! 

I need to re-evaluate my positions and get a plan in soon.  Just no time to do so right now.  Luckily, these have held their ground so far.

TLR

The tiny pullback yesterday on large volume gave me the impression people were still buying in this range - almost like shares were exchanging hands.  Today we regained what we lost yesterday again on large volume.  It seems as interest has picked up on this stock and I feel like I need to let it play out.  If it ends up leaving money on the table then so be it, there is just something about how this stock is moving that gives me the feeling there is more upside .... but so did URZ - which I must say ended up closing yesterday up much higher than where I sold, but trickled down again today.  Exiting that position is a good move, but sucks that I could have done so much cheaper.  Need to stick with the stop losses.

URZ - Ouch

I stopped out of this one, I gave it more leeway then I wanted.... mistake.  Out at $1.62 about, $300 loss.  Doesn't feel good, but hopefully it was the right choice.  It dropped to $1.54, but is rebounding slightly now.  Just way too heavy of a sell-off.  I really liked this one for the upside too.  I'll have to re-evaluate the chart to see if there is something I should have seen.  For one, my first instinct of $1.71 support was where I should have tried entering as opposed to $1.76, but the risk to reward was good I thought.  I just didn't exit where I said I would.  I don't think I had much of a chance once it did break $1.71. Pissed off....

TLR - Updated Chart

Well, the little pause in volume at which I sold my half position turned out to be a good choice in that I did not simply exit the entire thing.  This whole setup was a pennant/flag continuation pattern which to me screamed to break to the upside.  However, it very well could have bounced from this point and waited longer to breakout.  I don't mind locking in profits when I did, especially on the order of a few hundred, so I can't complain, but the stock took off up to $1.33 and closed pretty much at the high of the day.  Here is the updated chart.

So to reiterate the rational, the green solid line was support and the red overhead was the resistance trends of the pennant I had drawn up.  The horizontal black dash lines were additional areas I deemed support.  My entry was when the two touched together at $1.05.

The next area of resistance I can see is actually where we are sitting right now in the $1.31-$1.34 area.  I'm going to give it a little room, but seeing as we are now also outside the upper bollinger band that typically is not sustainable.  The past large moves seem to indicate that a slight pullback may be in order.  I'll give it a chance to gap up tomorrow and run a little further, but I plan to have a short leash on this tomorrow.  I am hoping for another solid green candle at which point I'd probably cut my risk and get out.  I won't have access to the markets except on my phone tomorrow so, I might toss in either a stop-loss or trailing-stop on this guy.

URZ

Pretty quiet, holding on pretty good to this $1.71 support I pegged initially.  Why didn't I just wait until support?  

TLR - Sold Half the Position

I sold half of the position this afternoon at $1.20 as it starts hitting its head up on that overhanging trend line.  There is a ton of volume right now, but its got potential to bounce off of this line and trickle back down.  Decided to lock in some profits as the buying slowed up.  So total shares sold was 1400.

MGI

Wow, that was good exit on my part.  That daily candle was just shaping up to show so much weakness I felt... glad I went with my instinct.  Turned a $200 profit into $30, but definitely saved myself from a $150 loss.....

Closed MGI - Holding others...

MGI 
 
Haven't had much time for the markets lately, really ugly day today overall I must say.  MGI was looking great today and I thought I had nailed another one, but its fun was short lived.  After reaching a intra-day high of $3.51, it sunk back to the mid $3.30s by end of day.  I was getting trigger happy at about $3.40 and should have fired there, but by days end the candle looks horrible to me.  It seems to indicate that the $3.40-$3.50 mark was rejected heavily, and its come back down.  I decided I didn't want to hold this for tomorrow, and to get out while I could.  I closed at $3.35.  Another fact for me selling this is that earnings are coming on Friday.  Earnings completely throw out most TA out the window.  A big gap down could just crush my account, and I'm not here to gamble.  I should have investigated that before buying into this.  So, I'm out with a $30 gain, sad when was close to $200 at one point.

TLR

TLR pulled back yesterday after its nice surge and grabbed some of it back today.  I'm still liking this one to hopefully try to test the upper trendline, and will make a decision there as to how strong it looks.

URZ

Not looking so hot, but it did come back to bounce out of that low $1.70 range.  I'm sitting at a loss on this one and it doesn't have much more room to go lower before I'm bailing.