November Recap; Current Swings

Since the shipping season ended in early / mid November, I have been doing a poor job at updating this trade log. Hence, posting a recap of entire November for archives.

In summary, did a bunch of poor trades which didn’t help my account much. November was overall very choppy in the markets so that didn’t help the cause either (daily $SPY chart below).

For my trades, it was not as much of not managing risks correctly but was more around wrong position sizing and rushed entires. Around mid-Nov, I started building a basket of stocks for China theme ($CREG, $CNET, $CCCL) given the G20 meeting end of November. Idea was to anticipate a run up in China stocks leading up to the meeting but they never saw much volume so I booked losses and got out. I never planned to hold China stocks going into the meeting so I followed the plan there.

If G20 meeting goes well, December could see some nice runners. I have got two current swing ideas in the account:

• $NDRA: expecting human data in December; financing out of the way. Long 10K shares at avg. $3.34

• $FRSX: they have a big demo / investor presentation / business update coming up on Dec 17 in Israel. Company also presenting on Dec 5 at another investor event in LA. Could see some volume in anticipation of the event. Stock very illiquid as it stands but my entry is near 52 week lows so very little risk holding here. Long 5K shares at avg. $2.32

Sold $GLBS for a nice gain

As expected, got a pop on $GLBS going into earnings. I peeled most of my shares into high $7s and $8s to book gains and reduce position to 2,000 shares into earnings. Risky but good risk/reward especially since I had already booked gains on remaining shares. Co reported nice earnings but I sold my remainder 2,000 shares too soon leaving almost $2-$3/sh on the table. Lack of vol in AH tricked me into selling too soon but booked solid gains on the trade overall so no complaints. Onto the next one. 

Reduced $GNMX; added $GLBS

$GNMX position had gone overweight in the account. With the catalyst out there in January, the stock continues to be very illiquid. Hence, I reduced my position in $GNMX to 5,000 shares mainly to raise cash in the account. 

Used this cash to add to my $GLBS position. now holding 6,500 shares at avg $6.44. Earnings are coming up for $GLBS in a couple of days and I’m yet to decide how many shares I’ll hold into the earnings. Currently, position underwater with stock closing at around $5.70 area. Based on chart below, I think $GLBS reverses from here. 

Updates: Sold $RKDA; Bought $GLBS

A couple of trade updates in the account: sold $RKDA for a small loss. Stock has showed no bounce, not much volume and with ER coming in the next couple of days, I’ve no interest in holding. Will keep on watch and see how the story unfolds after the ER. 

Used those funds to add to my $GNMX position. Now holding 22K shares at avg $1.25. This has been dead money so far but I still believe in this swing idea. Might see volume here soon.  

Also bought 2,500 shares of $GLBS at avg $7.45 to give this account some exposure to shippers. Probably the only one I’ll buy here in IB account so will see how it plays out. $GLBS has seen some low volume pullback from the recent highs so I’m buying on a dip.