Sold $GBR; Long $NDRAW, $SORL

Sold $GBR for a small loss or mostly flat. $USO has been strong but $GBR continues to trade sideways with decreasing volume. Think it risks losing the $2 level and could see $1.80s soon thereafter. Don’t want to stay in to find out. Best to cut losses and watch from the sidelines.

Use proceeds to buy 10K warrants in Endra ($NDRAW) @ 88¢. This is a small diagnostic imaging company that is potentially at an inflection point. I am choosing to do a play in warrants vs. commons in this account for a couple of reasons:

• I am just jaded trading $NDRA commons and with data imminent, I still don’t know how the market will react to their data in short term. Warrants give me an opportunity to take a longer term view of the investment that allows for a decent runway for the company to execute their strategy

• I have bought a small 15K position in $NDRA commons in one of my other accounts so that will take care of exposure to Endra commons

Below is my back of the napkin math on potential opportunity that warrants could offer if the Endra story gets legs:

On a separate note, bought a small position of 2,000 shares in $SORL just over $3. This is a beat-down Chinese auto parts company that is known to make big moves on positive earnings. I plan to hold my position through the upcoming ER.

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

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.

Sold $NDRA, $NETE; Bought $SORL

Below are my trades from today.

$NDRA - Sold around $3.06 level from $2.34 entry. This can go higher but booked gains. 30% gain for me so I cashed out. May get back in if I get a pullback to mid to high $2s. I still hold $NDRA shares in other accounts and continue to like this swing idea.

$NETE - sold flat; tried breaking out above $4 yesterday but could not get past $4.10 and today, it dipped back %5. I got uncomfortable and hence, decided to pull out. Will keep on watch.

$SORL - bought 5,000 shares at $3.83. This is a Chinese auto parts co. which usually has a run going into ER. Co will likely PR earnings date but likely to be in mid Nov timeframe. Trades very cheap from a valuation perspective and chart seemed to have put in a bottom. Daily chart below.