"Everyone has a plan 'till they get punched in the mouth" - Mike Tyson

March 01, 2014

Position update: 3/1/14

Here's the updated look at what I'm holding.  Most notable are the position adds in UVXY, FSPM, and XON.  Also note the sale of HZNP and the quick in and out of NAT on Friday.


Added this ultra vix ETF Wednesday because I like pain!  Just kidding, I wanted downside protection in this exuberant market.  It had a false support breakdown Friday morning and could really pop given the Ukraine situation and whatever else.  The stop is 62ish

I bought NAT on the bottom breakout Friday morning, but it gave up most of it intraday so I dumped it.  This can still move higher.


This FSPM is a pot related stock.  It's a smaller pure gamble trade (trades OTC), but the coil is a thing of beauty.  I took a shot Wednesday into that CNBC pot special art 5.35.  The stop is on a loss of 4.5.


XON failed to gain traction after an AM rip.  Intraday, there is a small base around 25.7.  The stop is basically a loss of 25.25ish



HZNP had it's first sign of weakness in a long time with a false breakout early in the morning.  I sold it as Biotechs were getting smoked.  Keep an eye on it, it still looks great and definitely has more upside.


Here's a look at old positions still open:

After cutting MTW in half earlier this week, we're in sit mode.  


IRBT's nice high consolidation saw some major weakness Friday.  The breakout still holds.  Stop area is still 39 on a closing basis.


UPL is chipping away at the long term resistance line.  The stop continues to be 23.



 VIMC continues to base.  I've documented the fresh multi year bottom pattern and down trend break time and again these last few months.  The 2.70 area is the raised stop area.


NMRX is stuck in this symmetrical triangle.  In symmetrical triangles the lower support line is key for the next few months.  Note the early January rip broke an all time resistance line started in 1995.


Reminder:

All ideas shown on this blog represent the authors opinion based on the data available.