I come to you, citizens of the internets, with more anecdotal evidence of a pending “correction” in the stock exchange.

Since I have started this portfolio at the dawn on 2013, I have only had one day with a better performance than yesterday.  I feel as if my trading is cursed in this era of QE bull market runs…whereby every time I manage to string together some nice trades and am looking at generous paper profits, the market swoops in and snatches them from my grasp.

Thus you can understand my impending sense of doom as yesterday, essentially everything I own was green…and in most stocks, it was not just by a little.

For example, RWT has gone parabolic the past two weeks.  I told you about this stock as it was “basing” in mid-late January stating: “If this stock can clear 19.5, what is to stop it from going to 30?  Sure, one could say “common sense and logic”…and that would be a reasonable hypothesis.  But we are also entering the “no logic” zone where demand far exceeds supply.”

We are currently sitting at 23.59.

I have sold half of my original position at two places in this rally (including once right before the close yesterday).  Yes, I could have let it run, but I also expect some consolidation here soon…at which point I’ll reload with my sights set on my original target of 30 bucks/share.

Another of my olde (sic) time favorites was CBI.  Now, I sold most of my position in this one prior to an earnings release and have not had a chance to reload.

Nevertheless, I was talking about this stock around the same time (mid January) with words such as: “Above 50, I foresee a push to all time highs in the low 60′s.  While it is not likely to get there in a single swift move higher (i.e., stairs up, elevator down), there is little in the way of historical pricing equilibrium in this area to stop an advance.”

At that time it was trading at 48.15.  Yesterday it closed at 57.82.

These are winners…and I served them up to you at a cost of nothing more than the time required to read my posts.  Yes, my tales may lack the braggadocio that some of the other writers here are wont to employ…but I also know what the fuck I am doing…so do with that what you will.

Had you chosen to be more much aggressive with your asset allocation than I have, you, too, could be “crushing it”.  As it stands, I’m chiseling away through new highs…slowly…quietly…but I’m there.

-EM

Yesterday brought about several transactions in the portfolio.

I had been watching CLMT for quite some time waiting to pounce.  I almost bought on the break higher at the end of February, but held off and waited for a pullback.  I didn’t want to get caught flat-footed, so I decided to pull the trigger on a starter late in the day yesterday at 39.07.

I should mention that this stock sports a volume void from current prices all the way up to all-time highs around 55.  Translation: this one has a lot of room to run.  Of course, you can ignore this information and keep trying to buy AAPL in search of a bottom…if that’s your thing, that’s cool, I’m just providing this information for your entertainment.

I also reloaded my MRH position on the break higher (at 25.75) out of the range the stock has been stuck in since early February.  This was one of my first volume void finds, and also has a lot of room to run.  So far this has been a low-beta, slowly developing experience…nevertheless, there is very limited historical volume to speak of from current prices all the way to all-time highs…around 43.

Again, this is another boring-ass stock that is not going to be “trending” on your favorite social media outlet…but could (and I emphasize COULD) appreciate significantly in the coming months.  Yes, months…be patient.  Or you could go and try to catch the bottom in EXK…I really don’t give a damn.

Lastly, I sold out of a little more than 25% of my PCL position at 49.67 (from 47.79) to raise some cash and lock in some gains.

The portfolio rolls on to a new highwater mark.  Yes, the gains are somewhat muted YTD, but this is a marathon, not a sprint.  There are plenty of people out there that can offer up trades that will return 200%…then conveniently forget to update others (trades) that go horribly wrong.

That’s fine.

Everything is here for you to see…this exercise is about managing money not recklessly throwing it around like a baboon flinging feces at the wall.

-EM

A fine morning to you, good citizens of the internet.

I must say, we are, without a shadow of a doubt, getting perilously close to another violent pullback in the market.

How can I say this with such certainty and vigour (sic), you ask?  Good question.

Answer: I deployed more cash yesterday to fund new speculation into some new names entering volume voids.

Freewheeling purchases were made in both AEIS and CVD late in the day.  I did cut free that stupid MDP position that was acting more like an anchor than an investment.

Additionally, I also locked in some profit from my very successful speculation into RWT.  I sold only 25% of the shares that I own…no matter how long I have been trading, the feeling of satisfaction when turning “paper” profits into “real” profits never wanes.

I am tempted to take some PCL off of the table here for similar reasons.  The stock currently comprises over 10% of my portfolio and it would be nice to lock in more gains prior to this impending pullback.

As for this pullback, don’t worry, there will be 16-40 hours of sheer panic as traders face the possibility of ending the day (or **gasp** DAYS) in the red.  That said, DO NOT FEAR GOOD CITIZEN the beards are growing thick and wild in the halls of the Federal Reserve, and order will be restored in a matter of hours.

-EM

Some quick notes:

I had been stalking BX for a while now and it finally broke above the level I was watching.  Even with the powerful move of late, I think this one still has a good 20% upside left from here.  Should things shape up favorably, I will be looking to add on pullbacks.

CNO has had a lot of difficulty breaking through 11.5 in recent days/weeks; therefore I would not be surprised to see a pause here.  If that happens, I am going to add to my position on a ‘constructive’ pullback.

Speaking on constructive pullbacks…I’m keeping a close eye on the happenings in GE, and am thinking about adding to my position here.  This is especially true if the former resistance level at 23.50 continues to act as support.

I have held all of my (small) MDP position throughout this pullback, and it appears that we are nearing an area that could be prove favorable for adding.  The risk I would take on through adding here would be extremely small, so I may go through with it as early as today.

I was highlighting RWT back in early January when it was trading in the high teens. Today it is just under 22.  I know some of you took my advice, most of you probably scoffed at the idea of being patient and letting this one come to you because it was “boring”.  To the former, I say: this can go to 30.  To the latter: go kick some rocks…or, there is still plenty of time and room to board this train on pullbacks.

-EM

The stock exchange continues to march to new highs and I continue to be over-defensive and under-invested to fully take advantage of this move.

So what else is new?  Keep watch on my transactions, because as soon as my cash levels drop below 20%, that is when we will be at the top…it’s a tried and true indicator.

Nevertheless, I continue to dig myself out of the hole.

-EM

Greetings internetsville.  Nothing satisfies me quite like witnessing the Philadelphia Flyers jovially celebrating another blowout win vs. the Pittsburgh Penguins (in the first period)…only to have the Penguins screw their heads back on and score 4 unanswered to leave the Flyers and the great unwashed masses of their fans throwing tantrums and breaking their sticks in disgust.

HAHAHAHA, EABOD Flyers.

As for my portfolio, MDP took one on the chin yesterday.  I didn’t sell…though I was tempted, but I will give this one a little more room and may even add to this position if I deem it necessary.

After over a month of monitoring, I pulled the trigger on a starter in MGA during this recent sideways action.

Even with the drubbing that was delivered courtesy of MDP, we still are chipping away at the losses incurred over the prior two weeks.

Cash levels are down to 38%.

-EM

Briefly:

Started positions in CNO and GE.

MDP is trying my patience a bit, but these kind of scenarios do take time to play out, I’m going to be patient and possibly add to this when the time is right.

MRH could be on the verge of breaking out of this most recent range…still have that small position lying around.  It’s in the void, so I’d like to see a meaningful break higher then add on any pullbacks.

Lost some money in PCL yesterday…could be setting up for an opportunity to add.

Similarly, RWT is also coming in, just a bit.  Looking for an opportunity to add here as well.

I’m cautiously bullish here…but the “divergences” are starting to pile up and are alarming me.

Here’s an update:

-EM

I initiated positions in CNO (11.22) and GE (23.76) this morning.  Looking to deploy more cash into other names.

-EM

I continue to chip away at the losses incurred over the past two weeks, now within 1% of my HWM while toting around a satchel filled with over 50% cash.

I am currently seeing a lot of ‘favorable’ looking charts, so  I will be looking to deploy some of that cash in the coming days.

-EM