Posts Tagged ‘ipo’

New Trade: Long YELP

March 21, 2012

I bought a starter position in YELP today. I like the business, and I also like the technicals. I started considering it after @ragincajun and @the_real_fly
were taking about it.

Here’s the daily chart:


I like the consolidation here under $24. I also like that price is still above the initial IPO trade price. I also like that it has been creeping up slowly lately, a few percent at a time. I bought at $23.20, and placed my stop at $20.20, underneath the recent swing low. I decided to enter at the price I did from the 5 min chart, as we retraced to the day’s VWAP:


I intend to hold this for at least a few weeks as a position trade as long as I don’t get stopped out. I would consider taking partial profits at a retest of the $26 high, and I will also consider adding more shares later if the stock acts right by making new highs.

GSVC Update: Position Taken

January 30, 2012

Looking at the chart for GSVC, I’d expect it to retest the support at $16. I placed a buy limit at $16.06. My stop point would be just under $14, with my target a retest of the near $20 all time high. So we’ll see if I get filled. Here’s the chart showing the 16 support:


UPDATE: I pulled the buy limit down to $15.75 for 1/31/2012. Just got filled at that price. Stop level is $13.25, target is to sell any pop from Facebook IPO news, the retest of $19.9x all time high if we get there. Here’s the current chart:


UPDATE: I just closed it out at $17.45 as I trailed up behind the late day price rise. I saw all the potential resistance around $17.50 at the left and didn’t want to wait out the retrace, so that’s +1.7 on the trade, or just about +0.85R on the trade.


(Potential) First Trade of the Year: GSVC

January 27, 2012

UPDATE: it never retraced to $15.78, so I wasn’t filled. Didn’t take the trade.

As I promised, I was going to blog any further trades and document my thoughts. This isn’t a trade yet, but it may be by the end of the day.

GSVC is going bananas on the Facebook IPO news. They are going to file for their IPO next week. GSVC holds a position in private Facebook shares. I want to buy the rumor and sell the news so to speak. I think this is a good trade because it’s one step ahead of the pack. GSVC is just obscure enough that Joey Retail probably hasn’t heard of it.

I didn’t chase the breakout today. Instead I put a limit buy order out for $15.78. I chose that level because it’s a healthy pullback of today’s move and is just inside some other volume traded back to the left on the daily. If I get filled, then great, if not, there is no position. Here’s some charts showing what I was looking at:




If filled, my stop level would be $13.78, underneath all of today’s activity. I would hold until the IPO is filed, and I would take at least a partial on the first move to the all-time high at $19.97 if we get there first.