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Seeing as I am quickly up over 11% on the position (timestamped in The PPT), I sold 1/2 of my $NR long at $7.00. As I have been noting re this stock over the past few days, the daily chart shows price action and a volume pattern that are very bullish. However, I suggested that chasing here is not a good idea, especially in this market environment. I am looking for a a light volume retest of the $6.50 area to load up a full position again.
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TOTAL PORTFOLIO:
EQUITIES: 52%
- LONG: 52% ($AAP $NR $NTAP $LULU $CRM $THOR $APKT)
CASH: 48%
Well played Chess.
Thanks Bubbles.
Nice play in Newpark. Maybe you’ll get a reentry at the gap below. There’s one of those pesky camoflage sell bars next door!
Thanks. I won’t force it. Trying to take what the tape gives me.
Wow, what a day! Got stopped out and went long at 13:11. NY AD left big opening gap. These are always filled, so it will be interesting trading the rest of the week.