TLDR: Only trade was a loss. Will wait for the market to show direction before trading again

 

Week 2 ended pretty well with a nice gain on AKER. More importantly my ability to recognize supports and resistances that are relevant is getting better. Coming into the week the market is on a serious downturn. I mainly follow the SPY but all the other have the same pattern. 

Since the markets direction seems to be changing or at least dipping hard I decided to be very picky this week.

My first potential play was on ARGS on Tuesday morning. As mentioned in previous blogs I am going to focus only on morning dips/panics. ARGS had a nice gap going into Tuesday and I thought it could base around 1.95 ( previous day resistance ). It came down to 2.00 and then took off to 2.40. Looking back I should have had a little more leeway for the support level since 1.95 and 2.00 are very close.

My only trade of the week was on ATOS for a loss. Even though it was my biggest $ loss it was not as bad as KSHB because I added money to my account and took bigger size. On my old account it would have been an $11-$13 loss.

ATOS had a good day on Thursday ( first green day ) so I was looking for a nice dip buy on a gap and go. It launched right out of the bell from 0.65 to 0. 0.68 and started to come down. I was looking for it to bottom around 0.62 ( previous day resistance ) and it did. I was alittle late on my order and missed 0.62. I then tried to buy a breakout above 0.66 thinking it could pop from there. It got rejected and never recovered. I stomped out around 0.63.

 

Will likely take some time to study as the plays don't really seem to be there right now.