About the New Highs

The market managed to rip to new highs today, sending almost all of my positions skyward and back to my high water mark of the year. Almost. My biggest position, USG, managed to trade lower. How sad is that? Anyways, my portfolio was pushed higher by my favorites added two weeks ago, KLIC and RTEC. My paper losses in the names are essentially erased and maybe I can be fortunate enough to start turning a profit on them. Other notable gains were in CALL and VHC. Here are the charts to my portfolio.

Since I was fully invested, I took the opportunity to sell into some strength. I am completely out of CALL from a cost basis in the 14’s. It was a great trade, and I think the stock will go higher due to the insane amount of shorts in the name (over 40%). However, I would like to finance some other opportunities.

So what am I looking at now? I think we just need to continue following the bullish setups, and take advantage of the trend. The market could be overheated here, but that has not stopped us from going higher. I am being cautious, however, I will not be calling tops. Just keep taking the bullish setups and being smart with your trades, and you will manage to be okay.

My Favorite Setups

Here are the best technical setups with TODAY’S SIGNALS. Watch for resistance breaks. The list has 34 names in it. The charts are all here in finviz. From my own positions, I like the growth name RTEC here. I am looking to start a position in DSS soon. The chart is below.

Other Things

I told you to watch MNST in my previous post. It popped almost 5% today. If some of you took the trade, then good for you. I managed to sit idly by and pass up the opportunity. My position in IBIO dropped today, but I didn’t mention it above due to the extremely small position size. I am still holding.

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