My Open Positions as of Friday, 6/2:
I added 1 more position to my portfolio since My 6/1 Watch List – TZA. Since sharing my First Watch List on 5/15, I’ve acted upon almost every ticker listed. This isn’t necessarily normal, but all the stocks and ETF’s I’ve been closely monitoring have been trading in a manner I expected, triggering me to execute multiple moves. I typically limit my holdings to 3 or 4 tickers at once, but right now I have 6. No new stocks on watch since I’m over my usual limit. Just managing my open positions at this time.
|Ticker||Number of Shares||Average Price|
CYTX (Cytori Therapeutics, Inc.): I’m comfortable with this trading above $1.00 at this time. Potential buy in the $0.90-$1.00 range. Patiently waiting for this one to grind higher with phase 3 data due out for Scleroderma sometime in July.
ITEK (Inotek Pharmaceuticals Corporation): Has been trading in a relatively tight range between $1.65 and $1.80 for the last few trading days. Potential add at the low-end of that range, but I’d really like to see it break $1.80 soon. Phase 2 data for Glaucoma due out mid-2017 is the catalyst.
ROX (Castle Brands, Inc.): Has been the workhorse in my portfolio for the past two months. I just sold 500 more shares of my position on Friday for another couple hundred dollars in profits. Still holding 750 shares and looking to potentially add more shares back on dips. I like the uptrend as long as it stays above $1.90. This has been an ideal trade thus far.
LQMT (Liquidmetal Technologies, Inc.): Not much to report on this one. Still trading in the $.27-30 range. Potential add above $.25. I’m interested in this stock for a relatively long-term hold for a couple reasons. First, it always seems to spike as iPhone launches occur. And second, the CEO has a successful track record of turning companies into technological leaders.
GRPN (Groupon, Inc.): Had a nice little bounce off $3.00 on Thursday, but dropped right back down on Friday. I won’t be giving this much wiggle room if it falls below support at $3.00. It’s been holding so far, but I haven’t necessarily liked the price action. Could really use those Alibaba buyout rumors to start swirling again.
TZA (Direxion Daily Small Cap Bears 3X Shares): The IWM hit resistance in the $140-$141 range on Friday, so I initiated a position in TZA. The long upper-wick on the chart shows me that the resistance is relatively strong, so I’m looking for a couple more adds to my position in TZA above $16.00 if that resistance continues to hold.
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