After hearing the good news on $BBRY having a committed one million units order, I figured that should be the catalyst to drive to stock to over $16. So, I wait after the open to give the price action more room to settle down. I bought a starter position at a decent $15.5x area with the morning low at $15.2x. At price began to climb, I added. I put a stop below the $15.2x low and left it alone. I was busy all morning so I didn’t have time to watch the market most of the morning.
Later morning came in and I was hit with two surprises. I bought $PACB in the morning when price was just sitting on the $2.30 support; so, I figured it would be a good calculated risk. No! price was tracking below $2.20. One looked at the chart and I knew what I had to do. I dumped the stock to take the loss.
Same deal with $DCTH. In the morning, $DCTH acted like it would shrug off the dilution and stabilize around $1.8x before the next leg run up similar to $CLDX. No! $DCTH was tracking $1.7x. Again, one looked at the chart and I had to sell it pronto. As you can see, I love to take losses! (grin)
$BBRY no longer was showing on my portfolio screen; apparently, I was stopped out with a small loss! What’s a disappointment!
$CGEN did not look good but it wasn’t as bad as $DCTH and $PACB; so I decided to give it some more time and room to prove itself.
So, what do I do next? Then I remember $IMUC from tpain when he asked me about it in previous post. I checked the chart and lo and behold, the red bar that looked to violate the uptrend line was no longer intimidating. There were now two green bars after that which kept the prices inside the ascending triangle. Not to miss the potential move up to take out the triangle, I decided to give this one a try and bought as starter position. At least, the chart looks so much better than the $PACB & $DCTH as of now.
I also came across $CDXS. I don’t remember how I’ve come across it but it is in my watch list. $CDXS exhibited a breakout to the upside by taking out the resistance line of $2.57. So that was a no brainer and I bought some. What tickled me about $CDXS was that it was somehow related to $SZYM. I see a great future in $SZYM so I’m naturally drawn to the potential of $CDXS as well. Chart looked good so I bought some.
$SZYM, although down from $9, is still trading within the uptrend line; I’m holding long even though my position is a bit under water.
I’m happy to see my $AAPL still hanging on. My stop was not hit. So, I’m still in.
The uranium stocks CCJ, DNN, URA all looked steady so I left them alone.
I came across $HW while reviewing the ETF price charts. One of the ETF exhibited a strong trend (I can’t remember the symbol now) so I looked at the stocks that made up the ETF. One of them was $HW. I like the look of the chart and I like the fact that it is associated with the rising house-building market which also happens to be The Fly’s thesis.
Again, a good looking chart and a solid price action made this a no brainer buy.
Current holdings:
LRAD, AMRN, SZYM, AAPL, HW, IMUC, DNN, CDXS, CCJ, URA, CGEN and 28% cash.
My 2 cents.
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