Recent Swing Trade Calls I’ve Made

I’m going to try to document my swing trade calls going forward, with relatively detailed writeups of screenshots and my thought process behind each trade.

I’m also going list a public Google Docs spreadsheet with the trading summary, including where I put my stop losses, expected profit, risk/reward ratios, etc.

Also, you can follow me on Stocktwits, where I will tweet out a trade before I take a position. For every one of these trades, you can see my tweet before I enter. That’s keeping it real right?

I’m not doing this so you can follow and take some of the same trades that I take. I’m doing this so maybe you can learn from the trades I make and why I decided to take them.

Winners & losers…all of the trades will be there for you to learn from.

If you have any opinions and thoughts you would like to share, feel free to contact me! Before I go through these trades, I would like to emphasize a few things:

  • I don’t trade every day, sometimes there are days that go by because I haven’t seen a trade I like, or I’m simply too busy.
  • Some of my trades actually will show a loss.  Yes, I actually I make some trades that lose money.  Unlike other “gurus” out there that seem to walk on water, I haven’t quite learned how to do that yet.
  • Don’t complain to me if some of my trades don’t work out.  I’m posting my trades so you can follow along.  Take them if you want, take them at your own risk.

In any case, let me walk you through my 5 most recent trades so you are up to date.

April 6 – MRTX

MRTX, swing trade, trendlines
This was a picture perfect trade setup!

I love it when I have two different support levels converge at one point.  In this case a horizontal support line meets at a long-term upward trendline.  MRTX has been on a tear, trending upward nicely, with some volatile swings along the way.  Before I took this trade, MRTX had reached a high around $36 and declined to the $26 range.  Ugly decline.  But here it was…at support, where prior moves up had occurred.

I took the trade on April 6th and held this one until April 16th.  Here’s the updated chart:

I got out where you see the red candle.  I had moved up my stop during the nice climb up to protect my profit and got stopped out.

Do you see something interesting?

Look at those two recent, tall white candles!  That support line is a strong one isn’t it?  Reacted off of that line again.  I had moved on from this trade, but a case can obviously be made to keep tabs on prior trades to see if a stock retraces back to your support level and then take the trade once again.

April 17 – ARDM

Wow, this trade was a 1 day rocket.  I didn’t expect it to blow up (and fall back down as fast as it did).  Here is the chart I saved right before I took the trade:

ARDM, potential gap fill ARDM experienced a major decline…from over $7 with big drops and pockets of air all the way down to the $1 range!

Ugly, ugly declines to welcome in the 2018 new year!

This came up on a recent scan that I have, where I look for stocks that had been flying high, then took a dirt dive.  The screen looks for a base to form and then triggers an alert when there are signs of life.

That is what we have here, with a tall white candle sticking it’s head above the recent resistance line of $1.38, with a close at $1.58.

You can see where I highlighted a gap right above this price, with another from about the $2.55 to $3.40 range.  There was the chance that this gap would be filled.  With this type of action, it is important to quickly move up your stops to protect your profits if it moves quickly.

That’s exactly what happened.  Here is a screenshot of where I got in and out of this one:

As I watched this one climb sharply during the day, I moved up my stop.

Put it to $1.92.  I ended up getting stopped out.  The next day, it did open higher, moved right up to exactly $2, then took a big, big dump.

Look at that red candle, followed by red day after day, until just yesterday.  Turns out the gap didn’t get filled, did it?  That didn’t move into the gap like I expected.  Might be one to watch further.

Just like MRTX above, do you see how this stock has again found support near the area where it broke out above the long recent trading range?

Could be do for another run.  Will be interesting to watch what happens today.

April 19 – CERC

This was an interesting one.  CERC had broken a long-term, upward sloping trendline.

However, it had reached a horizontal support line.

I liked the odds of my thinking that the bulls who were believers in the stock would come back to buy and bull it back up to underneath that trendline.  That was my price target to get out.  That trendline would be tough to get over and continue though.  Suckers would expect it to get above it.

Here is the chart that I saved before I got in the trade:

CERC, broke uptrend, near horizontal support
You can see that this was a decisive point. Head lower since it broke the upward sloping trendline, or find support at the horizontal line? I liked how the candlesticks compressed and narrowed. Good time to enter!

Here is a weekly chart that I took as well before the trade:

CERC, weekly chart
I thought there would be “believers” here that were still in this stock going way back. Look at how that horizontal line had some weight befor the bottom fell out!

Here is what happened after I took the trade:

Maybe I was lucky on this trade, maybe not.

🙂

I sometimes find that where the upward sloping trendline fails, the horizontal trendline somewhere below it holds.

My thinking is that horizontal support lines have more weight behind them than a sloping trendline.  That’s just from my experience. I should probably go into my thoughts further on a dedicated post.  In any case, the bounce did occur and got pushed back as the bears (maybe myself included) sold right at that trendline.

QTNT – April 25

This came up on one of my Matching Low candlestick pattern screens.  Here’s the chart at the time:

QTNT, matching low, candlestick pattern
After a pretty steady, almost stair step decline, the stock bounced off of support (blue line).

Then it bounced, moved up and then came right back to the support line.

That where you see those two red candlesticks, that closed at the exact same price, $4/share.  Matching low candlestick pattern.

When I see a small move up like this, where the move off of support didn’t have much life, and then the stock comes back down again to the initial pivot point, I don’t think the next few days are going to have too much life.  It’s essentially a “dead cat bounce”.  But since we had a Matching Low pattern, it was back at support, it had some potential.

When I looked down to the 5 minute chart to see the underlying candlestick for that last day, I thought it had even more potential.

qtnt, 5 minute chart, end of day, bollinger bands
Here is a 5 minute chart showing how strong it came back towards the end of the day.

Now that is a strong close!

It marched its way right back up from right around $3.70 up to close at $4, hugging the top part of the Bollinger Band.

The next morning, I took the trade. 

It dipped, which can be expected after a sharp and strong close like that sometimes.

This turned out to be a 1 day trade, because it looked like it was fading and not going to continue a run for the next few days.

Got in at 3.93.  Got out at 4.25.

These are my most recently closed trades!

I have 2 trades that I just recently called…here’s a snapshot below:

I’ll post a detailed writeup on these two, probably tomorrow.  In the meanwhile, check them out, feel free to let me know what you think the prospects are.

To stay up to date in real-time, follow me on Stocktwits.

Let me know if you would like for me to continue with posting detail on my actual trade calls going forward?

It takes some time to create and I want to make sure it adds value to see my thought process on trades I make.

Trade safe & don’t get too greedy!

-Greedy

2 comments

  • Hello G, I truly enjoy reading your blog and I for one hope that you will continue to do so. Your writing style is clear, well thought out and fun to read. Our swing trading styles are very similar, although I trade the canadian market, since that is where I live. Thank you for sharing your passion, and trade safe.

    Like

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