My book was up over two percent today. The sheep were shepherded higher by the benevolent RVLT which rolled out the Power Point slides they will be using in their upcoming dog and pony show. The pocket of momentum present in solar fizzled into the bell but still provided impressive gains this week. I hardly see the run up in YGE being over, and given the ace entry earlier this week and the scaled piece, the best play seems to let my money work here instead of constantly fiddling with the knobs.
The afternoon was all about MHR. This is another stock I nailed my entry on. Patiently waiting for quality entries at well-researched levels, even when the battle is at its hottest, gives me a huge edge when it comes time to manage the position. I don’t get that pinch on my shoulder blades telling me I am losing my cool. Being up over 10 percent on the name in a scant three trading days and feeling the urge to scale, I decided to do the opposite and buy more. It brings my average up but still keeps my cost basis within the consolidation range. It was a good move according to risk.
October is fast approaching and I get the feeling the headless horseman is dusting off the cobwebs and making preparations to thrust his axe into my spine. Thus, even though I am 95% long, I have a clear sight on the exits. I feel like a squirrel foraging through a bountiful prairie while hiding from the hawks under a squirrel sized umbrella. Stocks like AMBA, BALT, MHR, and YGE are giving this small rodent the courage of a lion. I will eat the poachers faces and then go lay in some mud with the Rhinos.
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