Thursday, May 18, 2017

Perfect game plan but yet $90 losing day! :( + Best ideas for 5/19/2017

So coming into today; I had the perfect game plan. I was expecting a bounce in the markets and had stocks on watch to play if this scenario played out. The markets bounced and $AAOI bounced perfectly off the $60 support while $PULM set up both a red-to-green play and then OPR breakout and followed through nicely although it didn't quite hit the target I had it moved enough to yield significant profit had I traded it. 

Both plays I had spelled out in my pre-market game plan. So you would expect that I'd be talking about the profits I made today! Instead I ended today another losing day and my 3rd losing day this week. Now my equity is slightly below the $1,000 starting balance at $942 ish. 

I have recognized what I changed between last week when I made $180+ in profits in only 3 trading days and this week in which I am losing $220+ in 4 trading days. Now last week, although I did play a few gappers; my primary focus after the first 15 minutes or so from the open was my best ideas from my nightly scan. However, this week I some how managed to add the top list to my platform as well as Twitter to my nightly scan ideas. So in addition to the 5-10 ideas off my scan, this week I've been trying to scan through 40+ stocks off the top list plus scan twitter for ideas. For what reason, I do not know. This distraction and spread of my focus has been causing me to be making random trades. 

Going forward I will remove these distractions and focus on my best post-market ideas and game plan. I've already removed the top list from my platform set-up. Also I will not open twitter until in the afternoon when things have slowed down and I'm just looking for entertainment if I am not in any open positions. I will focus on the 5-10 ideas I have on watch and look to trade the fuck out of 1-2 of them like I did last Friday with $AUPH. 

Before I move onto my best ideas for tomorrow; I've two thoughts/observations that I'd like to share.
Firstly I'm expecting this bounce to continue into tomorrow or if not worst case scenario we have a narrow range/doji type day. I definitely do not see the markets selling off hard again tomorrow barring some unanticipated news again. Secondly, I've noticed in the recent weeks that Chinese stocks have been very strong. So ideally I'd be looking to go long a Chinese name for my first trade tomorrow. Speaking of which my favorite is $BZUN above $22 with $23.50 target then possibly $24.

In addition to $BZUN, I also like: $IMMU (tapping the half dollar $7.50 + all-time highs; could be explosive if it breaks this level tomorrow); $EXTR above today's high with $9.30/$9.50 targets; $AKAO has been forming a cup with handle sort of base past couple months...I like this one through $26 with $27.75 intial target and then possible new 52 week high push; $SGMO above today's high for a push back to $8.60ish and finally my sole short idea $HZNP below today's low for push down to recent lows at $9.50.

Let's end this week of strong!!!

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