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I made two trades today. I sold out of my remaining shares in both $GSI and $SAPE. $GSI has essentially gone parabolic since I bought it on Monday, so selling out here makes sense. $SAPE reports earnings tomorrow, and has been a 7% gainer for me. So, I will take my chips off of the table here.

All trades are timestamped inside The PPT

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TOTAL PORTFOLIO:

EQUITIES: 42%

• LONG: 42% ($COCO $GNK $LSCC $RDWR $BX $POWR $SWSI)

CASH: 58%

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I made three more trades today.

• I bought a full position in $GNK (chart below).
• I bought 1/2 position in $LSCC (chart below).
• I bought a full position in $COCO for a casino (you will recall my $JMBA was a push, with me selling up a mere penny) (chart below).

All trades are timestamped inside The PPT.

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TOTAL PORTFOLIO:

EQUITIES: 48%

• LONG: 48% ($COCO $GNK $LSCC $GSI $RDWR $BX $SAPE $POWR $SWSI)

CASH: 52%

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After entering $GSI at $2.99 yesterday (timestamped in The PPT), the stock has catapulted to $3.44 today. I still like the chart of the stock a lot, but this small capper can move around wildly, as we are seeing now. Thus, I sold out of 3/4 of my position around the $3.40 level.

If you are following my trades, be sure to check back in.

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TOTAL PORTFOLIO:

EQUITIES: 28%

• LONG: 28% ($GSI $RDWR $BX $SAPE $POWR $SWSI)

CASH: 72%

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One thing that really irks me is to see a position of mine underperform the broad indices. I have very little patience for losers in my portfolio. To paraphrase Paul Tudor Jones, winners add winners, while losers average losers. In that vein, I sold out of $JMBA (made a penny on the trade lol). There is still a lot to like about this firm, but I am not going to stick around right now to find that out.

In its place, I bought back in to a full position of $SWSI, which I have traded before. It was also one of my featured setups for this week.

All trades are timestamped inside The PPT.

NOTE: Introducing Brandon Hardesty.
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[youtube:http://www.youtube.com/watch?v=gTywAyDcMo8 450 300]

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TOTAL PORTFOLIO:

EQUITIES: 34%

• LONG: 34% ($GSI $RDWR $BX $SAPE $POWR $SWSI)

CASH: 66%
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Thus far today, I made two trades. I went long a full position in $GSI, and I also went long a 1/2 starter in $RDWR.

All trades are timestamped inside The PPT.

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TOTAL PORTFOLIO:

EQUITIES: 34%

• LONG: 34% ($GSI $RDWR $BX $SAPE $POWR $JMBA)

CASH: 66%

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[youtube:http://www.youtube.com/watch?v=OSsj6jr5eJc 450 300]

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Going into the first week of August, I am more apt to play stocks that have pulled back to what should be fresh support zones, as opposed to chasing breakout plays. Nonetheless, if the broad market makes another higher low at the 1100 level on the S&P 500, then breakout plays should work very well. The following charts represent my top trading ideas for the upcoming week. They are all long setups, as it appears that the short trade has gotten long in the tooth, for the time being. With that said, if we lose that 1090-1100 area early this week, I can assure you that most of these plays will be rendered broken. Thus, there would be nothing wrong with taking a step back and getting a feel for the action tomorrow.

Feel free to pick and choose whichever setups best fit your style. Please keep in mind that these are trading ideas only. I urge you to use stop losses in order to mitigate your downside risk–I prefer a trailing 7-8% stop loss.

I hope you find these ideas helpful.

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