I made 2 trades today and stopped out on both. $GNPX was a nice setup with a pull back into the initial morning high and that's where I got long. I was looking for the tradeline, VWAP, the 38.2 fib, and the initial morning high to hold me up then looking to push to a new high of day. We had good volume on the initial push to the high of day through the initial morning high and light volume on the pull back but it was a failed attempt. I'd take this trade again if it were in front of me and remains my number one setup.
My second trade was $SPCE and was a pretty good setup but not as good as $GNPX. we gapped up this morning to a new high again and instead of getting long in front of the initial morning high, I got long in front of the second morning high. Still a good entry and trade but not an A+ setup. Realistically, I shouldn't have been in this trade even though it was a valid setup. I was watching it hover the initial morning high so if it wasn't good enough to take a position at that point, what made it good enough to take in a secondary setup? Nothing. I should have had the first setup or nothing at all on this one. My theory on this trade was that shorts started piling in this morning when it was hovering the morning high and there'd be a new wave to start closing their position to increase price and push it up. My theory was right but only applied to the initial setup. By the time I was in the trade serious short sellers stepped in and got me.
There were a couple trades I wish I would have taken but hindsight isn't going to do me any good. I liked $UBER over the high of day in the afternoon session. $SPCE made a really nice bounce off yesterday's high this afternoon as well, which I was expecting but wasn't in the mood to take. I had two duds on the day already and have been fighting a headache all day. No need to add to my discomfort if I'm wrong. I can swallow today's loss but tonight I need to make sure I get better sleep than I have been so I can get back on the tear I've been on this month and bring in February green.
As an Aside, Berkshire Hathaway closed their $AAPL (Apple, Inc.) and $PSX (Philips 66) positions today and went long KR (Kroger). The stock gapped up on news of their position and is holding fairly well. I'm going to give it a couple days to see if it holds or drifts back into a better buy point for me, then I may take a position long and hang onto it as an investment rather than day-trade.