__________
If you have been following me since my Peanut Gallery days, then you know that “The Wine” has been fortunate enough to be enjoying a fine trading year. When the market was healthy earlier this year, I was riding the trend up. When things got toppy in late April, I got into 100% cash the week before the flash crash, and have been playing it safe ever since.
I am in a position now where I am going to gamboool a bit here. Thus, I went long a full position in $JMBA as a speculative play. Obviously, this carries a high degree of risk, so please use caution. The charts below detail my reasoning and analysis.
NOTE: More profit taking, as I sold out of my final 1/4 in $NR and sold another 1/4 in $SWSI.
All trades timestamped inside The PPT.
UPDATE: I sold out of the rest of my $SWSI stake, and sold 1/2 of $NTAP to lock in profits.
___________
___________
___________
TOTAL PORTFOLIO:
EQUITIES: 34%
- LONG: 34% ($ARUN $BX $NTAP $SAPE $POWR $JMBA)
CASH: 66%
Great use of Sammy Farha. He is the effin’ man when it comes to having the gambling spirit.
Heh. Thought that was Kevin Spacey in some celebrity poker match.
Good trading to you Chess.
I like the JMBA trade. It’s registering an 11 on a 13 countdown Tom Demark sequential buy. Which essentially means that there could be two more closes lower than the close two days prior and then a nice move up. Once the move starts, trailing stops for sure.
Good luck and thanks for your continued solid analysis.
Phil