One of the stocks that I went long with a full position yesterday is $NR. I have had my eye on this one for a while now, and jumped at the chance to buy it yesterday. Despite the choppiness in the broad market today, this one is up over 10% at the time of this writing.
I do not advise you to chase this here. However, I think you would be crazy not to have this name on your scans of stocks to watch. This issue has seen consistently powerful buying volume over the course of the past few months. If you agree with my analysis here, I would suggest you wait for a light volume pullback to around the $6.30-$6.50 zone. Also note how easily you can define your risk, with a stop loss below the crucial 100 day moving average, which has been a brick wall for the bears.
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TOTAL PORTFOLIO:
EQUITIES: 40%
- LONG: 40% ($AAP $NR $NTAP $LULU $CRM)
CASH: 60%
Nice call there!
Tough tape–I will take it where I can get it. Thanks Marsh!
Yeah, the market’s going nowhere. Everyone’s on vacation already
Nice trade, great way to start the weekend!
Taking profits on this theta decay Friday on that “buy” from earlier. +4.5%
Stochastics red-lining, so why not? Maybe see that gapped filled on Tuesday.
thanks philsy–lots of dead action today. See what Tuesday brings!
Wish you could see the NY % A/D line pushing to close the gap from the opening. I doubt that it will, but if so, we’ll have to be on the plus side very strongly.