$CLRB swing thesis played out perfectly. Got the news today pre market that I was looking for and I sold my shares into the spike. It could go higher but with no immediate catalyst on the horizon and co presenting at a conf later today, I don’t want to stick around. $6K+ in gains so I’ll take it.
Quick update on current $CLRB swing. Still holding all my shares (8,000 shares). Stock has been just ranging below $3 for the last couple of weeks. In that period, it tried breaking above $3.15 a couple of times, but got rejected. Yeserday, the stock broke and held above $3.15 with strong volume. Broke and closed above 50MA as well. Last time it closed above the 50MA line was back in May.
Been on the road on vacation. But was watching it break out late day from the beach :) Could have booked partial gains but still holding full position since I believe that the stock can do a lot more. Above $3.80 with volume could get really interesting for that gap-fill idea to $5. Updated chart (daily) below.
Forgot to update trades yesterday. Sold $DCAR flat on the ER pop (was under water on this small position). Used funds to buy more $CLRB. Picked up 2,000 more shares. Total $CLRB position now at 8,000 shares at $3.15 avg.
Under water on this one as well but think it will work out. Willing to give it some time.
Sold $CDTI for a tiny loss. Mostly flat trade for me. Sold since there has been very low volume the past several days and it seemed like the bids were getting taken out. At close of today’s session, stock closed at 50¢ support. If that breaks, there is no telling how low this one goes.
Moved those funds over to buy 6,000 shares of $DCAR at avg. price of $1.12. Will swing this for a pop unless I get stopped out. Terrible long term chart but has a history of pops on PRs right after a big drop. Playing my odds here.
Just like I had thought, $CDTI broke the 50¢ support today and closed more than 9% down on the day. No telling how low it will go before bouncing. $OHGI, which I had sold flat earlier, also took a dump today and printed 20¢ as the day low. Closed -16% on the day. In hindsight, getting out flat on those swings was a good idea.
Tried a $CANF day trade in pre mkt on strong contract news. Chart was not moving as expected on volume given relatively small float (~11M). Had a smaller position of 1800 shares. Booked a 10¢ loss and got out.
Bought 6,000 shares of $CLRB at avg. $3.26. This is a biotech that recently did a 1:10 R/S. Co. sold some shares right after the R/S. So at this time, $CLRB is a very low float (probably less than 1M shares), nicely funded bio with chart sitting at the bottom. There are some catalysts due in 2H which could bring nice vol. to the chart. I like this setup for a gap fill idea on the daily.
Took me a while to get all the funds routed and available for trading in the IB account. IB is just too slow in making funds available for trading, when compared with ETrade. But it is done. Total funds deposited in the IB account: $27,000.
Downtrending in this channel. Need to show signs of reversal prior to a potential entry.
This $6.32 area needs to hold both from standpoint of wedge channel support and multi-week support level going back all the way to Oct 2017. Stock consolidated under that area from Oct 2017 - Mar 2018 which is when it finally broke out and went supernova. Eyeing an entry here for a potential position in the IB account. Co has scheduled its ER release for 8/8 AH so I am being cautious for any entry prior to the ER. Will continue to watch.
$CDTI chart setting up on the daily. Looking for the EMAs to start crossing in the next day or two. If they do, early next week should be interesting here. Insiders loaded big recently. Could pop on volume. Still holding all 9,500 shares.
Here's an idea for long $DPWW that I am playing in my other trading account. Will not likely take position in $DPWW in my IB account but thought I'd post here.
Remainder funds en route to the IB account.
Sold $OHGI for a measly scalp - wasn’t my plan but buying stopped on volume and I didn’t want to be left holding a bag - so booked gains.
Bought 9,500 shares of $CDTI at 52¢. Very speculative setup. They recently did a raise at 50¢ and my thesis is there will be a pump or some news announcing the close of financing.
Just small position since IB account still remains only partially funded.
This is what happens when you love the markets a bit too much.
Bought 11K shares of $OHGI at avg. 44¢. Former runner will hold for a spike with volume unless I get stopped out. Made fresh 52 lows couple days back so hopefully it reverses from here. News drop will help.
First set of funds got deposited this morning in my new IB account. So far I’ve got $5,000 in there. More on the way; should be in the account by end of this month.
IB account is now ready to make some trades.
I opened a new brokerage account with Interactive Brokers. While I use ETrade as my broker for my main trading account, I thought of opening my new account with IB for a couple different reasons -
So Step 1 is done. Next up - fund the account. I’m trying to move some funds around to route them to this new account. So it will take a few days but I expect everything to fall in place by end of this month. Beginning of August, my new brokerage account will be fully up and running to trade.
I am a swing / day trader that mostly trades small caps. This blog is a bit of an experiment for me where I’ll start a new brokerage account and try to grow it while maintaining full transparency on the web.
I will post every single trade I take, with position size, post my gains as well as losses. If you are a beginner or intermediate trader that would like to follow along the journey, it will be all the more fun!
Over the next few days, I will open a new brokerage account, fund it, and perhaps post a screenshot since that will be my account start size. I have not yet decided how much the initial funding will be but I am inclined to keep it above the $25K level so I won't have to worry about the Pattern Day Trader (PDT) rule. I’d like to keep this account separate from my main trading account so that it is cleaner for tracking purposes.