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. 

Flipped $DCIX; bought $GNMX, $IMDZ, $BIOC

Sold $DCIX the next day in morning spike when I thought the momentum was not holding. Probably made like 8¢/sh. Will keep on watch for re-entry for the upcoming shipper’s season in November. May have to get $DCIX at a premium later but decided to use funds elsewhere for now.  

Added to $GNMX position. Now have avg $1.27 with 15,000 shares. I think I’m in this early so one mistake off the bat is over committing my capital to this one trade but I do like the entry spot before volume comes in this name. This could be a multi-week swing for me. Support is at $1.20 and then $1.10 on the daily. Needs to break $1.30 to get traction on the chart. 

Started scaling into $BIOC. Beat down chart and a tiny float. The co recently announced a patent in Japan but has seen no share price appreciation. Recently did a small financing at $2.56 so I think there could be a squeeze here. Currently holding 3,000 shares at $2.28. Would like to add 2,000 more shares. 

Bought 10,000 shares of $IMDZ at $1.66. This is a biotech that has data coming up around Nov 7. Could see a run-up into the catalyst. Gap-fill idea above $1.90 on the daily as well, if it gets there.  

Over-trading; Bought $GNMX and $DCIX for a swing

Definitely over-trading a bit here. Need to cool off a little bit and focus only on quality swings. Today’s trades below.

Market was choppy today so I booked gains when I saw them. Sold $SORL for a quick 10—15¢ gain when it broke $4 but had trouble staying above the $4 line. May re-enter if it dips into the $3.80s. Previous entry was ~$3.83. Still hold some $SORL in one of the bigger accounts.

Bought $GNMX for what might be a multi-week swing. Took 10,000 shares at $1.29 (chased there a little bit). This is a biotech which has data due in Jan 2019. Bought here early for a catalyst run-up type move over the next several weeks. Co recently did a raise to expedite their trial so they should have cash over the next few months. Insiders loaded recently so with volume, this can move closer to $2 as part of a catalyst run-up.

Bought and sold 5,000 shares of $BLRX when it dropped ~15-20¢ intraday on no news. Stock has got data coming up over the weekend. I decided to exit the position flat so as to not have stress of holding shares into data.

Finally, towards the market close, bought 10,000 shares of $DCIX at $1.34 - shipper season may be upon us with Nov only 2 weeks out. $GLBS, another shipper, caught momo so I bought $DCIX as a sympathy play. I like the $DCIX chart so might hold it for a few days in case it does not run this week.