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Recent Trading Calls

Decentraland (MANA): +50%
09:12 ET
SCALP ScalpTrader Crypto Notes -- Trimming 1/3 of the recent Decentraland (MANA) crypto position entry for 50% profit.
  • Noted on Tuesday that I was picking up two new Crypto positions -- Polymath (POLY) and Decentraland (MANA).
  • Bought MANA at $0.10. Yesterday, it spiked as high as $0.23. Unfortunately, I missed the exit on the 130% gain.
  • However, I am trimming some today for +50%, as MANA pulls back to the $0.15 level.
  • The Polymath (POLY) position currently is about 27% in-the-money. I am going to sit tight with it.

S&P Futures (ESm8): +50 pts
09:43 ET
CHART ChartTrader: Buying some ESm8 at 2666.5 at 1/2 size, risking 10 pts
If this does not work, then it points to the bearish resolution of the wedge, so it's a good point of falsifiability on the potential for upside follow-through over the next 48 hours, as we discussed in the ETF Daily Notes this morning.
12:53 ET
CHART ChartTrader: S&P futures long update: Banking out a piece of the ESm8 long here for just shy of +19 pts as we approach test of the 50-day SMA
See 9:43, 10:05, 10:52.
15:39 ET
CHART ChartTrader: I will be holding remaining S&P futures long position overnight
Stops at 2666.00. Sitting up about +15 pts at present. For those in with me, but using SPY, please size appropriately given that you will not have the protection of a stop-loss order during overnight global market action. We have seen some pretty dramatic gaps on political catalysts lately. There's no telling what sort of headlines could hit tonight or in the wee hours. If I were in SPY instead of ES, and was holding any kind of appreciable size, I would probably cut it down or close it out. But I am in ES, so I'm keeping it in place without adjustment.
10:06 ET
CHART ChartTrader: Banking a little more of the S&P futures swing long from yesterday for about +32 pts
See yesterday's CHART commentary as well as this morning's ETF Daily Notes ("Earnings Squeezing the Wedge")
09:07 ET
CHART ChartTrader: Closing out last piece of S&P futures long here for about +50 points

iShares Semiconductor (SOXX): +15 pts/Long April 190 Puts +150%
14:16 ET
BLUEX Blue Chip Trader - - SOXX Swing Short Balance Follow Up - - Partial (172.35 -7.70)
  • With another round of heavy distribution in Semis (SMH) today, we have as much as a +15 point gain (Long April 190 Puts +150% from $7 to $18) on our remaining Short balance in the SOXX here.
  • Consider a partial profit and tightening up on a balance stop down to the 181/182 area.
  • Next target would be if the SMH (currently at $100) dropped another -3% down to its own 200-day ma's at 97/96.
  • That should equate to the SOXX down around its own 200-day ma's near 167/166.

Facebook (FB): +10 pts/Short April 145 Puts +200%
15:59 ET
BLUEX Blue Chip Trader -- FB Long/Bounce Follow Up - A "keeper" for overnight Swing... (160.00 +0.61)
  • Nice lift to that 159/160 target, back in positive territory, good for approx +10 point gain into the close. (Long April 145 Calls +50% from $11 to $17; Short April 145 Puts +200% from $4.50 to $1.50)
  • Worthy of trimming some profits if you can and holding small overnight for a Swing.

Nikkei Futures (NKDm8): +910 pts
11:52 ET
CHART ChartTrader: Going to bank more of the Nikkei futures (NKDm8) short position here for about +910 pts
Will leave a little on looking for continuation, but this was really the target area when I put the trade on. For those following the futures education process, this is about $4,550/contract in gains against around $1,300/contract in initial risk, with about $5k needed to set aside in margin for each contract held.
13:50 ET
CHART ChartTrader: Out of last piece of NKDm8 Nikkei short here for about +815 pts

Direxion Daily S&P Biotech Bear 3x ETF (LABD): +39%
11:48 ET
SCALP ScalpTrader: LABD Swing Update -- Trimming 1/3 of LABD swing long for +17%; stops to $2.83 entry price. (3.31 +0.22)
09:43 ET
SCALP ScalpTrader: LABD Update -- Trimming another 1/3 of LABD swing long for +22%; stops on last 1/3 at $2.83 entry. (3.47 +0.07)
11:17 ET
SCALP ScalpTrader: LABD Update -- Closing out last piece of LABD swing long for +39%. (3.94 +0.22)
  • This is the 3x Biotech Short ETF.

Amazon (AMZN): +25 pts
12:30 ET
BLUEX Blue Chip Trader -- AMZN Swing Short Balance Follow Up (1573.71 -8.61)
  • Continues to sink to fresh lows on the week, currently good for a gain of about +25 points (Long April 1630 Puts +25%) as it sinks under last week's high/close along 1578-level...
  • I'm targeting the 1560/1555 as an ideal spot to lock in a partial profit again, but given this is one of the market leaders and it's highly volatile and coming into its 10-day sma near 1567, taking an early partial profit is warranted if you have size.
  • Overall, I'll continue to ride this Short out as long as it remains below that 1600/1605 zone.

Proofpoint (PFPT): +57%
14:36 ET
TREND TrendTracker: Selling half of my remaining Proofpoint (PFPT) swing long for a 57% gain (118.81 -0.21)
Down to a 1/6 size position. I continue like this stock long-term as THE email security provider for large enterprises but the valuation of ~9x sales and ~40x FCF largely reflects the company's strong position. Note Mimecast (MIME) provides email security for smaller enterprises, is also doing well, trades at closer to 7x sales and is also overbought. I plan on holding the PFPT balance longer term, would get interested in buying back below $100, all else equal.

Sarpeta (SRPT): +172%
10:27 ET
TREND TrendTracker: Selling half of remaining swing long in Sarpeta (SRPT) for a 172% gain (82.32 +3.22)
I have just a tiny 1/10 size remaining balance that I am willing to let run. Note I completely exited KITE last year and then GILD acquired them at a hefty premium. Blue Chip (BLUE) always preaches letting your winners run.

Back to SRPT: Positive news on meeting with the FDA potentially sets up Golodirsen approval next year. Sarepta's current DMD drug on the market helps 13% of DMD patients while Golodirsen will add another 8% of the population. The company is also working on gene therapy approaches. SRPT is considered a takeout candidate.

MongoDB (MDB): +51%
09:46 ET
TREND TrendTracker: Selling another 1/4 size piece of MongoDB (MDB) swing long for +51% (41.11 +2.55)
Continue to expect beat and raise on Tuesday but valuation now stretch at ~9x sales.

Plan to hold 1/4 size balance for the long-term and would be interested in adding on a retest of support in the low-$30s, all else equal.

Agrello (DLT): +36%
12:43 ET
SCALP ScalpTrader: Adding another 1/3 to the Agrello (DLT) crypto position on Binance
DLT trading at $0.22 on Binance.
09:32 ET
SCALP ScalpTrader Crypto Notes -- Taking profits on the Agrello (DLT) I added on March 7 for +36% gain.
  • I'll be looking for a pullback in price to get this piece back on.
  • DLT is trading at $0.30 on Binance, up 37% on the day.

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