November Recap; Current Swings

in ,

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.

Screen Shot 2018-12-01 at 9.48.15 AM.png

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).

Screen Shot 2018-12-01 at 9.49.38 AM.png

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

Updates: Sold $RKDA; Bought $GLBS

in ,

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. 

Sold $RKDA; bought $NDRA and $NETE

in ,

Traded $RKDA poorly. Thesis laid out in previous post still intact but the stock got a volume spike on no news and when there is no follow up volume, there is usually a sell off that hurts the stock - especially when swinging a thin one like $RKDA. I was up $4-5K easy on the day it had that volume spike but chose to not sell since thesis guided me to wait for news. But when there was no follow up volume the next day, I scaled out for a small gain. $800+ booked. 

I continue to believe that current levels around $5 or just below it present a strong entry. I’ve got exposure to $RKDA in my other trading accounts. So will keep it on watch for a potential re-entry in the IB account.  

Used the funds to start two new swings:

1. $NDRA - bought 7,000 shares @ $2.34 avg. They recently did a raise and catalysts are expected in near term. Will look to add more shares cheaper if possible. This is a @super_trades pick and he is an excellent swing trader to follow. 

IMG_1111.PNG

2. $NETE chart play for me. Bought 5,000 shares at avg price $3.94. Oversold with price sitting on multi-month support area on the daily. 20% of 3M float is short. Co did $63M in revs (Ttm) with expanding revs announced in 1H 2018. Low float, former runner - with the right PR or volume, could get squeezy. So that’s my thesis on $NETE. 

IMG_1110.PNG

Below is a daily chart for $NETE.

HJvpikm7.png