It has been a long time since I made a blog post. Life became busy, the url renewal expired, things at work were crazy….blah blah blah, I’ve got a million excuses. Basically I wasn’t committed to this blog, but now I’m back and ready to recommit.
In the time since, things have been profitable. I’ve made many trades, tested new systems, failed a lot, succeeded a lot less, but still things are profitable. This is the beauty of looking for a 3:1 risk/reward system as taught by Van Tharp. You can be right only one time out of 3 and you will still be profitable. In fact my win rate currently stands at 28.26% on 46 trades, but my YTD gain stands at 12.44%. I’m underperforming the market as of now, but there is plenty of time left in the year, so I plan on changing that soon.
Ok, now on to my holdings:
HOV, with housing stocks heating up this one looks like it will benefit. Coming out of this big descending wedge after consolidating for most of 2013. If we see some money rotating back into housing stocks out of the defensive plays (healthcare, utilities) then this one could make new highs. First target is 6.50 area in the next 1-2 weeks.
RSH, this heavily shorted stock looks like it could get going if it can break out of this cup and handle pattern. A break over 3.87 should get this thing going to 4 or higher quickly. It based out for about 10 months now so there should be plenty of fuel. I got in early in anticipation of it breaking out here, but might be wise to wait and see how it acts when it approaches 3.87 area.
LOCK, this stock broke out of its basing pattern earlier this year and ran almost 50%. It found support again at that break out level and looks like it might start heading north again.
PAMT, this is a big momentum stock that saw some volume come in recently. I’m keeping very tight stops here. It needs to keep moving and attack new highs, otherwise I’m out of this one.
BBRY, this is another highly shorted stock that people love to hate. I think it is showing some very positive price action and I love the higher low that set up just above the 20 and 50 day moving averages. If this stock can continue higher from here and out of this triangle pattern, it will be interesting to see how the shorts react. If a squeeze happens, this could make new 52-week highs very quickly.