Hi Mark,
MRVC - I know I'm in the groove when I buy something both you and Collin are in without knowing you are. I never seem to have time to follow SI any more, but I really should check in more often, especially when the "crew" is on and the gizzards are soarin'. <gg>
MRVC has been on a watchlist while it consolidated since the end of last month. Looks like it should have hit my developing scan last night but for the fact that yesterday's volume was less than the day before's and it closed below the midpoint of it's range, altho it closed up. May have to tweak that scan this weekend.
Anyway, I first noticed MRVC today when it's volume surged this AM and started watching - bought first position later @ 4.65 and a second @ 4.98. Hadn't worked up a trading plan for this one, so flying by the seat of my pants, but it looks like some news is expected by someone. Holding all, but have sell for one position in AH market at 'outrageous' price - if someone wants it they can have it and it will offset my SBUX debacle. First targets I noted on a chart some time ago: around 5.75, next around 7, but don't recall the details; will have to find them in my journal notes.
EDIT: no one bought my shares at 6. Oh well. Afterhours, it traded as high as @ 5.56 and some size at 5.50 so who knows? I'll do a better work up this w/e and send it to you.
Still in VTSS short, may be a mistake, but keep thinking it's got to drop (like CNXT did today). Just about back to my scratch point, so not a good plan, but I also boxed it again with AMCC (@ 15.60). And AVNX stalled just before my expected first target of 9; I held as the quick sell off looked like it was to take out stops, the pull back bounced nicely at a fib retrace level and daily volume is up nicely - there may be another 3 points in this one and if it pulls back Mon, watch for a good entry as it may consolidate next week. Give it a look and me your thoughts, please.
Have a good time with your daughter (mine has a jr hi dance tonight - big stuff) and a great weekend everyone.
Peace and Justice --- Patrick |
