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Thus far today, I have made the following trades:
- I added 1/4 more to $LULU. I now have a full position in the name.
- I added 1/4 more to $GMXR. I now have 3/4 of a position in the name.
As I have said before, my style is to be extra cautious as a swing trader when we are operating below a declining 50 day moving average. Therefore, my buys are very selective and done in measured steps.
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TOTAL PORTFOLIO:
EQUITIES (Including ETF instruments):42%
- LONG: 36% ($APKT $LULU $CRM $GMXR $ISH $DECK $THOR)
- SHORT/HEDGED: 6% ($TLT $TZA)
CASH: 58%
amen to extra caution and measured steps.
indeed
Chess – can you help me understand why you chose today to put your last 1/4 in LULU? I’m looking at the chart and I see a pretty distinct down trend coming in range of near term resistance… Are you looking for it to reverse soon?
I love the buy/sell volume pattern oh the daily chart. It has been down 4 days in a row on meek volume after a sharp run up on strong volume. It is a clear Wall St darling over the past several quarters, even during corrections. If I am going to be involved on the long side, this is where I want to be. Right now, it is flagging at previous resistance ($43/$44 level) trying to turn it into support.
To me, the risk is worth it, if I get stopped out down 8% from here.
Thanks, I really appreciate the insight. It gives me a different perspective to consider.
thanks for reading, bubbles
Chess, any thoughts on SKX? This seems like the kind of stock you’d be interested in, in the mold of DECK, LULU and NFLX.
Also, any updated thoughts on THOR? Still like it or has it broken down?
Love SKX and CROX as well as DECK. The shoe trade is in full effect. I am stalking it. Thanks for reminding me to talk about it.
THOR–not a breakdown yet, but getting a little sloppy. Volume is not heavy today, which is a plus. I am still holding for now. Looking for buyers to step up here in the next day or two.
Looking like a breakdown now.
Hey Chess….what are your thoughts on MELI? Seems to be a growth stock similar to some of those you list above — recently loved by the investors despite the ups and downs of the overall market. Think the continued growth is feasible? Seems to be approaching some support here…
ugly candle today, but not on heavy volume–let it come in to $54-$55 and see if it catches a bid-still love the daily chart–broke out and now retesting
Yeah not a good looking candle today….I was thinking of accumulating a small position near that $55 level you had mentioned, and adding some more on continued strength. Thanks for your insight…
And your thoughts on GENC?
great volume pattern on daily chart and looks to have built a healthy base, but it is thinly traded so there is added risk with technical analysis