01/25/2016 Trade status for EGL, OMED, ENOC

01/25/2016 Trade status for EGL, OMED, ENOC

$ELG - This ticker had been down BIG for the pass few days, I am watching for more downside play.
Pattern: Fail support
I start in short $13.69 because it fail  the support level $143.73ish from the line below. It didn't crack and juse consolidate about 1 hour so I just cover $13.69 flat but then it drop after 30 minutes. The plan is right but not patience.




ENOC is a runner today.
Pattern: HIGH, HIGHER LOW.

I saw the top around $6.63 and higher low $6.51ish. I start in short around $6.29ish and risk the $6.50 level because the stock was up from $4.00 to $6.60ish. It was after my short entry but I didn't cover and it's slowly grind up higher and higher above the VWAP so I cover all around $6.12 for about $0.13 profit. I recognize the "LOWER HIGH, LOWER HIGH" move and that is why I cover and you can see it ramp up pass the line afterward. This will be a good play tomorrow. I want it jump to about $8 and plan to short.



$OMED is a super gap down today so my plan is to short base on the support level failure.

Market open and want to short but I press the wrong hotkey and it buying share $9.60ish instead of shorting. Then I sell $9.60 for $0.20 profit. This is not part of my trade plan. My trade plan is at the line $9.40. I start in short $9.35 risk $9.40. It didn't crack and I didn't cover and let it run up. I short some more around $9.80ish then it's just keep going up. At this time I decided to move my risk up around $10.50 and short more if it's start to fade after $10.50. It max out around $10.20ish and start to fade. I shorted my last full size at $10.05 bring my average up to $9.71ish and the wash coming. It drop down about $9.58ish and I didn't want to cover for such small $200 - $300 gain so I hold for bigger wash but I am starting to see the "LOWER HIGH" "LOWER HIGH" move so I have to cover all my position around $9.77ish for $0.06 loss. Again this is the same $ENOC trade. I cover before the big move up..  Today overall is very effective risk management. I am happy with these trade because I manage my risk and only lost less than $100.00 :). This is the fee for cup of coffee.




See you all tomorrow.