Tuesday: more consolidation

We're still digesting the V-shape move up from March 16 lows. But this seems much healthier than a pullback, many stocks are setting up for a move higher. Gold and silver are helping, big gains today for both, gold breaking out.

Swingtrades
Because of the many good setups I found, I started a whole lot of small positions, meaning to add when time is right. Some of them immediately went the wrong way or formed a candlestick on daily that wasn't to my liking. For those and other reasons, some positions are closed already, most of them near end of day or when the stop was hit.

Closed trades:
WY: long from 04/04 @25.20, out 24.75 (-1.82%)
BBY: long from 04/04 @28.46, out 28.80 (-1.22%)
MTZ: long from 04/04 @21.50, out 21.81 (+1.42%)
LEN: short 17.82, out 18.41 (-3.34%)
ARBA: long 34.61, out 33.92 (-2.02%) I entered a limit instead of a stop-limit order when price moved over 35 in pre-market. Should have kept my stop-limit order!
MOBI: long 13.39, out 13.40 (0,00%)
JAZZ: long 32.42, out 32.54 (+0.33%) This was a winner later on, 33.54 EOD.
LNG: more of a daytrade actually, long on break 9.50 (entry 9.58), out 3/4 @9.94 and 1/4 SL @9.60 (+2.71%)
MELA: long 3.58, out 3.67 and 3.59 (raised SL) (+0.77%)
ECA: long 35.13, out 34.50 (-1,82%)
ARMH: long 28.50, out 28.67 (+0.56%)
MCHP: long 38.42, out 38.18 (-0.65%)

Open trades:
Still in OCZ, BX, BGCP, TLT and SDS from Monday. I took some profits in OCZ and BX, both up nicely.
SLW: long 45.17 SL44.00, sold some 46 (AH)
SCI: long 11.56 SL11.20 (one from Stewie)
LULU: long 91.12 SL88.75, sold some @94
NXPI: long 31.37 SL30.00
NUE: long 47.11 SL46.20
TSO: long 28.02 SL27.11
LEAP: long 15.69 SL15.15
PPG: long 96.76 SL94.65
HMIN: long 42.45 SL40.90
GES: short 39.95 SL41.00
FFIV: short 93.36 SL96.30
EBIX: short 23.76 SL24.50
MENT: short 14.49 SL14.99

Daytrades
Two daytrades, TYC and YOKU. Somehow, I managed to take the wrong stocks, mediocre setups maybe and let the good ones slip by.

TYC: in on bounce from 9EMA (actually I entered this one from a 15m-chart instead of the 5m-chart).
Price reversed shortly after entering and then bounced on the 20EMA but I was already stopped out.

YOKU was an entry after NRIB7, which worked well eventually. Price stalled on R3 and fell back towards R2 to stop me out. Luckily I took a partial profit near HOD. End result was a breakeven trade. Later on, price went back up to reach my first target of 51.95 (only just).

Consolidating under resistance...

...is what markets did all day. A choppy and rather boring day. Nothing really interesting, silver was the only big mover (+2%). Semi's went further down, which was to be expected after Friday's move.

Swingtrades
I opened a bunch of swingtrades, including some shorts as well as positions in TLT and SDS as a hedge.
All are small positions. Some I closed because they started to get extended from their base or because of a nice gain.
RIMM: short @55.75. Took profits 55.29 - 54.92 - 54.41, sold everything, +1.33% on average.
OCZ: long from Friday @8. Took partials 8.44 - 8.57 - 8.73. Keeping a few on to swing in case of a gap up or trend day.
WY: long 25.20, SL24.75
BX: long 18.30, SL17.80 (SL moved to breakeven), took off 2/3 near HOD
MTZ: long 21.50, SL20.50 (SL moved to 21.35), took off 1/5 @21.90
BBY: short 28.46, SL29.00 (SL moved to 28.80)
BGCP: long 9.53, SL9.22
TLT: long 92.28, SL91.40
SDS: long 20.81, SL20.51

Daytrades
2 daytrades: BRCM and SOHU.

BRCM was mentioned in the HCPG-newsletter, as a support-buy in the 38-area. And that was exactly where the stock bounced at the open. In @38.42 and took some off at the pivot-point (38.74). Then the stock reversed and I sold the remaining part at breakeven.

SOHU: In near 94 after the stock bounced on the 5EMA. The stock went down again until the 9EMA catched up, then SOHU took off like a rocket, straight ahaid to R3. I took profit near 95 (whole number) and  some more near 96. I left some on but my stop was a little too high and I was stopped out. SOHU rallied some more towards the close.

Thursday: markets up, bulls gaining strength

Markets gapped up a little bit, went down to bounce on yesterday's close and then rallied again. The Dow and S&P both overcame their 20- and 50MA's, the Nasdaq is still trailing but closed well on somewhat higher volume than the past days (which cannot be said from Dow and S&P).

Markets are putting in a nice V-shape here, so this could be the beginning of a new rally. But therefor the markets need to consolidate for a couple of days and then go higher on some more convincing volume. We're not there yet...

Crude oil is resting near it's intermediate high and could be double topping here. Although not likely, with the problems going on in Libya.

Gold and silver made new highs but then reversed sharply intraday. The euro shot back up towards the 1.42-spot.

Swingtrades
Stewie took on 3 swingtrades (AKAM, PCX and RAX) in the late afternoon, I followed on all 3 and we're holding overnight.

Daytrades
The first daytrade was ROK. In on the break of base after price bounced of the 9EMA. I screwed up an order and accidentally sold 2/3 of my shares. Luckily with a (small) gain and I even managed to buy some back at the same price I sold them. Price couldn't overcome the daily high from the opening range, I then sold partially at the very top of the inverted hammer. The remaining part got stopped out. Without the messed up order, this would have been a good trade, although this setup is not ideal at all.

And same thing can be said from the trade I took in IMAX. Even worse actually. Again I picked out a stock that shot up fast in the opening minutes. First of all, such a violent spike needs consolidation before it can move up again and that takes time, but time wasn't on my side. Secondly, when I bought the stock, the S&P ran into resistance at the 1310-level. Better is not to take that risk and refuse the trade...
I got in on the break of 30, where volume came in. Sadly, there was no follow-thru and suddenly the stock reversed sharply, falling throug my stoploss (some slippage but not to bad) in a matter of seconds.

EBIX was a knife-catch (bottom-picking a stock that's falling fast, up to 5-10% or even more).
The stock fell down >20% on fraud allegations. I went in when price seemed to bounce back from the same level just under 23 (apart from one fake move below). I quickly sold as soon as price shot back up to the 24-level. Small position but not a bad gain. I'm not proud of this trade, it's more like buying a lottery-ticket, I just got lucky here (although I didn't win the jackpot). Here the 1-minute timeframe, all developed in a matter of minutes as you can see. I promised myself not to do this again.

Miss of the day (not talking about female beauty here, sorry guys): HMY. It had some nice follow-thru this morning after yesterday's big gains.
I wanted to go in when 2 hammers formed. For some stupid reason I put in a limit order instead of a market order. I didn't want to chase price, but this was just ridiculous, 1 or 2 cents won't make that much of a difference, even on a $14-stock. As depicted below, I missed out on some very nice gains and a good setup, way better than ROK or IMAX (let's not mention EBIX again...)

I also missed BBY, a couple of minutes after my failed trade in IMAX, maybe that's why. Nice breakdown thru base at S2 ($30.80). Also note how price fell, reversed under S3 and found resistance right on the breakdown-area (S2, nice inverted hammer there). From there on, the stock even went below 30 before buyers came back in.