«

»

Sep 15

Review Of Open Positions – Stocks

A strong week for the market with the NASDAQ moving to fresh highs and the S&P continuing to recover from its recent selloff. There were no new positions entered or stops triggered during the week, but as of Friday’s close we did receive three new buy signals for Monday’s open in $APA, $SU, and $TOT, detailed here.

Here’s the summary of all our positions lifted from our performance tab:-

SUMMARY AS OF 9/13/13

OPEN POSITIONS:- Total 32: 30 winners, 2 losers. Average win +22.4%, average loss -0.5%.

CLOSED POSITIONS:- Total 51: 20 winners, 31 losers. Average win +14.8%, average loss -8.9%.

ALL POSITIONS SINCE INCEPTION (1/27/13):-

Total 83: 50 winners, 33 losers (60% win). The average win is +19.4%, the average loss -8.4%.

 

We always highlight our losers first before the winners and we thought we might not have anything to show as the two names that appeared here for a while both turned positive this week. Instead they were simply replaced by two other positions that both pulled back into losing territory:-

Apple ($AAPL) -0.0%

$AAPL took a hit this week back to where we entered after a ‘less than impressed’ reaction to its product announcements Tuesday. While that’s disappointing it would be premature to suggest the uptrend from the June low is over yet. It’s currently sitting on a previous breakout level along with the 50 and 200-day so it would be no surprise to see it digest that move a while longer before the intermediate direction becomes clearer again.

AlphaCapture

 

Iconix Brand Grp ($ICON) -1.0%

$ICON eased back on the week having failed to follow through on its breakout attempt, but as losing positions go, I wish they could all look like this, there’s really no damage done, the uptrend is intact, volume continues to come in on the up days and the invalidation point is clear, making this still a good risk/reward trade.

AlphaCapture

 

Here are our 30 winners:-

Valeant Pharma ($VRX) +49.3%

On Assignment ($ASGN) +31.6%

Fifth & Pacific ($FNP) +41.2%

Microchip Tech ($MCHP) +10.6%

Packaging Corp ($PKG) +30.5%

Michael Kors ($KORS) +26.7%

C.R. Bard ($BCR) +14.0%

Tesla ($TSLA) +63.0%

SS&C Technologies ($SSNC) +18.7%

A nice week for $SSNC, and it’s even better than it looks here when you switch to a line chart, having made a clean breakout on a closing basis early in the week, which was consolidated in a tight range thereafter.

AlphaCapture

 

Qihoo 360 ($QIHU) +95.7%

This beast doesn’t know when it’s done, putting in another big week. It’s a good thing it doesn’t make electric cars or people would be saying it’s overvalued :-). This is still all about how it acts on any decent pullback as typically any 2-3 day pullback has just seen it picked up again. Just stay with it and watch for any change in behavior.

AlphaCapture

 

GNC Holdings ($GNC) +16.9%

Lockheed Martin ($LMT) +20.3%

$LMT continued its steady advance overcoming previous highs to effortlessly reach all time high territory.

AlphaCapture

 

Illumina ($ILMN) +17.5%

We mentioned in our last review having survived a brush with the 50-day and our stop level that $ILMN was again setup for higher prices and it sprinted away this week to finish at all time highs on increased volume.

AlphaCapture

 

LinkedIn ($LNKD) +32.1%

Actavis ($ACT) +8.3%

Under Armour ($UA) +28.8%

Cabot Oil & Gas ($COG) +4.0%

Netflix ($NFLX) +30.0%

3D Systems ($DDD) +3.4%

FEI Company ($FEIC) +12.0%

$FEIC had the kind of move you love to see; breaking out strongly then following through with more of the same.

AlphaCapture

 

McKesson ($MCK) +9.3%

$MCK ended its recent consolidation breaking out to all time highs, extending its run of advances to six.

AlphaCapture

 

Evercore Partners ($EVR) +18.9%

$EVR had been one of the featured movers the previous week climbing to all time highs on increased volume, so it was very encouraging to see that advance continue and then consolidate tightly towards the end of the week.

AlphaCapture

 

EMC Corp ($EMC) +5.6%

FleetCor ($FLT) +23.0%

$FLT has been putting in some more volatile sessions recently but the net progress is the same, this is a solid uptrend, staying cleanly above its MA’s with a series of higher highs and higher lows.

AlphaCapture

 

Proto Labs ($PRLB) +12.5%

Dunkin’ Brands ($DNKN) +2.6%

We came so close to being stopped on $DNKN but made it clear throughout we’d need to see a clean break of the ascending trendline and $42.50 on a closing basis, and we never got either. Patience and discipline were rewarded this week with $DNKN coming out of its funk to climb back above its MA’s and rip to all time highs.

AlphaCapture

 

Green Mountain Coffee ($GMCR) +7.9%

Nucor Corp ($NUE) +2.7%

$NUE turned back into positive territory this week, continuing its progress following its failed breakout attempt. We’re back near those levels now and would expect to see another attempt made at taking out the $50 level.

AlphaCapture

 

TASER Intl ($TASR) +32.2%

CIGNA Corp ($CI) +4.2%

 

 

 

2 comments

  1. Steve Ditman

    Jon
    I know you dont take partial profits off the table , where is your stop level for $QIHU? There’s white noice around more competition with SOHU being acquired.
    Steve

    1. Jon Boorman

      I doubt something indirect like that would be enough to change the trend for $QIHU, a mild correction is more likely, but I’ll be going by price alone, and the key is how it acts in that $73-69 area.

Leave a Reply