Review of current holdings:
BVEW long
long term play 6-9 months
starting to get really tired of watching this one trade.
CWON - short
longer term short, might be a zero.
will add 8.50-9.00
no stop
DLIA short
another pos
Target is $4.00
will add at 7.00
no stops here
medium term position
tons of strength lately
GADZ long
forward pe under 8
holding medium term.
target 17s
I might reduce some of this holding tomorrow, as I am net long right now, which I hate.
HBIO - long
nice value oriented long play coming off large lockup last week.
nice support at high 7s
target 10s - 1-2 weeks
nice holding to balance some shorts
IDN short
what a pos this is!!!!!!!!!!!
target mid 6s
Next add at 13.00
longer term if needed here
no stops
strength reappeared today, hard to break AMEX stocks sometimes.
MFNX short
Its either me or them, one of us will run out of cash:-)
see you all at ZERO
the dump continued today
would love to add at 6.50
MRVC - long
bounced smartly today of the lows, hopefully follow through tomorrow.
value play based on LMNE spinoff this summer
very short term target 11 or might just short LMNE on any pump to hedge the position and exploit the possible arbitrage.
stop loss will play by ear.
PCLN short
former internut with lots of new competition
longer term play
will add 9.00-9.50
not sure if I will use a stop here at all
target low 6s
RSTO short
gigantic run from 1.50 to 7.00 over 5 weeks.
time for a major retrace
target 4.00
no stop
will add near 8.00
being a bid stubborn here
STEM - short
what a pos, total hype
this is a major former ATM for me
I would love to see 7s to really build a sizable position.
will add at 6
major resistance at 6.00
no stops here of any kind
target mid 3s
TIVO boxed and neutral
what a pump and dump this was, a classic.
should be out of cash before yearend
gigantic loses
VIXL short
major pos, but probably not a zero
started with 1/4 position and hope it goes higher so I can add
will add at 6 and 7
no stops here
longer term position
will try to cover around $4
WGAT - short
ugly fundamentals
the dump started today.
add 7.25-7.50
target 4.00
no stops
WGRD - long
reasonable valuation here
Lots of insider buying last 2 weeks
tremendous support at 7.00
target 8.50
stop loss 6.75
I covered 3 short positions today leaving me 3 to 2 net long. (I hate being net long)
14th straight profitable trading day today for me. Nice streak.
Make sure you allocate well on your shorts.
If you are adding to existing short positions, please use larger % intervals for now (25% or so)
Show lots of patience on potential new positions, maybe even start smaller than usual until a clear down direction is seen.
Try to use the 3 day rule of pumping before starting a new position, unless something very special.
Nasdaq has had lots of trouble between 2250-2300 level, nice resistance here.
A breakout of these level could take the NAZ to the 2500-2600 level.
Summer rally might be coming, be extra careful on shorting.
Almost any warning is meet by immediate buying (seems ridiculous)
Watch for July 17 as big reversal day.
Summer rally ran out of steam around this date 3 straight years.
Market bounce back strong today, probable continuation tomorrow, unless we see further major warnings.
I have several times stated a very general rule I like to use, here it is again:
Often markets and individual stocks tend to move in 3 day trends and reverse a bit. (this is very general)
This is what happen today, as we had the 3rd straight day of selling)
Buy the Champs and Short the Chumps
traderpulse.com;
Michail |
