It was a good week for our holdings. Having looked as if they might roll over having struggled to break above first resistance, the major indices held firm through the July 4th holiday, then finished the week strongly after a better than expected jobs report.
We had no exits triggered, and entered 4 new longs in $LNKD, $ACT, $UA, $COG which we detailed here, bringing our total number of open positions up to 27.
Here’s the summary of all our positions lifted from our performance tab:-
SUMMARY AS OF 7/5/13
OPEN POSITIONS:- Total 27: 26 winners, 1 loser. Average win +12.1%, average loss -1.0%.
CLOSED POSITIONS:- Total 37: 12 winners, 25 losers. Average win +14.8%, average loss -8.4%.
ALL POSITIONS SINCE INCEPTION (1/27/13):-
Total 64: 38 winners, 26 losers (59% win). The average win is +13.0%, the average loss -8.1%.
Tradition dictates we go through our losers first, then our winners. As of Friday’s close we only have 1 position of our 27 longs that’s losing, and that’s one of the four stocks we just entered on Friday morning! In the interests of consistency though let’s stick to our usual format and show it, and then we’ll highlight some winners:-
Cabot Oil & Gas ($COG) -1.0%
$COG gapped higher Friday giving us a less than ideal entry and after fading throughout the day recovered late in the session to still leave it with a favorable set up for an eventual breakout of its recent trading range.
Here are the winners:-
Green Mountain Coffee ($GMCR) +56.6%
Google ($GOOG) +17.7%
Computer Task Group ($CTG) +18.5% (Ticker symbol changed from $CTGX to $CTG)
PolyOne ($POL) +16.2%
$POL had a strong week, again attempting to move clear of its recent congestion zone with a gap and run on Friday to match the 5/28 all time closing high of $26.63.
Valeant Pharma ($VRX) +33.6%
$VRX took further steps to move away from support at $84.20-$83.36, resuming its longer term uptrend.
Visa ($V) +20.3%
$V just continues to shine, when it’s not trending it never gives back too much to invalidate its longer-term trend, and when it resumes it does it with conviction always making you feel like you’re buying the highs, it’s a classic trend following stock. Take a look at any time period over the last 2 years and the chart is the same.
On Assignment ($ASGN) +13.9%
$ASGN has needed a wide berth but acted well this week staging a strong reversal Wednesday and then following through on Friday to close at fresh highs. A tighter consolidation than we’ve seen previously would be very welcome at this stage and would signal it has built a strong foundation for a sustained move higher.
Fifth & Pacific ($FNP) +31.7%
Another good example of why we don’t use MA’s breaks religiously, they can sometimes break without invalidating the longer-term trend. $FNP bounced back strongly and finished the week at 52-week highs.
Microchip Tech ($MCHP) +5.7%
Another one that’s done it the hard way without ever invalidating, Friday’s new closing high can hopefully signal it’s ready to move away from its choppy consolidation and use this as a base for a stronger move higher.
Cerner ($CERN) +7.3%
$CERN steadily reclaimed the ground above its 20 and 50-day MA’s and following a 2:1 split picked up where it left off, ending the week with a gap and run to an all time closing high.
Packaging Corp ($PKG) +18.4%
$PKG continues to be a steady performer, it never broke convincingly below its MA’s, and after taking out that descending trendline now looks poised to take out those highs.
Adobe Systems ($ADBE) +4.1%
After better than expected earnings, broker upgrades, and a few false starts, $ADBE is finally starting to put together some better price action and put in a strong week this week moving up towards the May highs.
Michael Kors ($KORS) +7.8%
Goldman Sachs ($GS) +3.1%
C.R. Bard ($BCR) +4.0%
Tesla ($TSLA) +18.3%
A huge week for $TSLA as it continues to move higher on increased volume, remember how this felt and looked when we first bought it? Now you wonder what everyone was concerned about. Classic trend following.
CBOE Holdings ($CBOE) +13.6%
SS&C Technologies ($SSNC) +6.2%
Qihoo 360 ($QIHU) +7.6%
GNC Holdings ($GNC) +3.2%
Ambarella ($AMBA) +0.1%
Lockheed Martin ($LMT) +1.5%
Illumina ($ILMN) +4.6%
LinkedIn ($LNKD) +0.7%
Actavis ($ACT) +0.9%
Under Armour ($UA) +0.4%