$CYDY (+$65)

Best trade for the week. I took this long over the weekend when the stock was holding over the former resistance line of $5.50. I bought after it was holding that $5.50 level with a R of $.10. Consolidated into the close which is sometimes better than it spiking so that there are more buyers on Monday. I didn't realize until reviewing on the weekend that they also issued a PR after the close which would help the stock gap up. On my exit, I was at work and couldn't watch the LV2 or tape on my phone which turned a great trade into a bad one. I watched the stock start to dip and I thought that it was going to fail on the gap up like it did on past gap ups. I sold out within a minute and didn't allow the stock to form a direction. After selling, the stock immediately started to change direction and kept holding all dips. In any other situation I believe I would have been patient by watching the LV2 and seeing strength. As I watching the stock, after no position, I would have taken some off at $6 and the rest most likely would have been $6.50. Important to review these trades cuz $CYDY was a perfect b/o pattern, had a PR after 4pm, holding into the weekend, history of running, and was gapping up on Monday. I need to be more patient and be more aggressive on plays like this that have so many catalysts in its favor. 

 

$TSNP (+$18)

FGD pattern after the multiple red days. I bought midday when the stock was breaking above the symmetrical triangle and thought that it could keep running. Had a good entry when the stock started to perk up which allowed me to still profit after selling on the pull back. I thought that with the midday breakout would hold over the morning high and when it didn't, I was worried that the ABCD pattern was broken. I would take the trade again even though it was midday trading because I have seen multiple patterns do this and continue recently. Another way I should have played this was to be patient and re-enter in PH when the stock broke through $.39 after it consolidated all day. Huge R:R pattern when these OTCs have this tight range and breakout into PH. Bigger multi day run that I would have expected and if I did hold o/n I would have been selling into the morning spike the next day in the mid $.40s to $.49. After misplaying this on Monday, I felt emotional getting back in but should have recognized that it still had strength and was again holding sideways, over VWAP, the next day that lead to a gap up and breakout over $.50 highs. 

 

$ALYI (-$13)

Midday fakeout breakout. I bought when the morning high, $.0849, on 2/4/21 was being test again. The stock had a nice spike in the morning but then flushed down to $.076. It bounced back up to the highs and I thought that this could have strength to breakout again due to the convincing bounce. However, there were big sellers at $.084 that made it very difficult to continue higher. The stock did breakout and hit new highs but only up to $.086 and came right back under the previous high of $.0849. I tried to give the stock some time just in case that quick dip would hold and continue higher. I was noticing the stock was having a difficult time getting back over $.084 and the minute it snapped under I got out for small losses. Like $TSNP, I should have continued to watch this the rest of the day cuz the stock held that $.08 level, over VWAP, and bounced into the close near my entry earlier in the day. The stock then gapped up to $.09 and continued ripping up to $.11. I screen recorded and made exit notes of where I would sell my shares if I still had them. It was good practice to watch the tape and helped me to be patient for future trades. 

 

$SING (-$6)

Daily breakout over previous highs. I bought this after $.04 failed for the third time midday and was pulling back. It already touched $.038 twice and was starting to hold sideways. I thought I could try and get a low entry before it would climb back up in PH and retest that $.04 resistance. I was hesitant on taking the position cuz I noticed the volume at that time was very very low but I thought the ascending triangle it was forming plus being close to the breakout level was a more favored indicator. I was wrong and within minutes of buying a 2M seller came on the ask at $.039. After ten minutes and not even being able to touch $.039 again, the big seller came down to $.0385 and started hitting the bid. When I saw the tape going through I quickly sold at $.0384 and got all out. The stock then flushed hard within the minute down to $.035, saving me a $70 loss. I am very happy about the trade and realizing the heavy ask. I thought it was better to get out and not risk a disaster than to stay in and wait for the stock to panic and me panic selling with it. What I didn't notice was the double bottom at $.0355 that then bounced all the way back to the highs to close above the breakout level.

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I do have a swing position in my IRA account on $NWBO. It is a small position but I like the price action on the daily chart. Every dip the stock has is being kept up and forming an ascending triangle. The company does have the possibility of announcing trial news that could very well spike the stock back up.

 

Goals for next week:

1. Continue cutting losses quickly

2. Use the morning and midday price action to determine which stocks I want to play for the afternoon. Midday breakouts can be good entries but majority of the time they came back near that level and offer good dip buys with less risk.

3. Be more patient on winners that have lots of catalysts. Ex. $CYDY

 

I did a good job this week cutting my losses quickly when noticing I am wrong. By doing that, I have kept my losses small and made this a profitable week. I could have done much better but the fact I thought I was breakeven on the week and now seeing I am profitable makes me happy. I think a lot of what is helping me so far this year is going to a cash account to trade. I am no longer worried about taking trades due to PDT and has allowed me to focus on the stock and exit quickly to protect myself and still be able to trade.