Tomorrow is options expiration day, and although I don't always stop trading on expiration day, I probably will this time. I've been trading a lot this past week and it is time for a break. Unless I see something really great, I probably won't make any new buys. I will be selling APN as it was acquired today (didn't find out about it till after the close).
On the whole these last couple of weeks have been very good. I'm having a lot of success with range contraction plays such as Narrow Range 7 (NR7). Strong stocks are bursting out of narrow consolidations and running up huge. NVEC (today's Snoopy Dance) is one example.
Here's another one:
There are now 8 stocks (of 35) in the portfolio up more than 10%: NVEC +33%, FMD +31%, ININ +28%, SVVS +22%, MIKR +15%, TIE +13%, IDEV +11%, NUVA +10%. 7 stocks are below their buy price, but the worst is only -2%. What has really gotten me back into groove again was reducing my position size down to about 1/3 of what I was using last spring. This means I've been taking small positions in a whole lot of stocks, but the small position size and tight stops have kept the losses small, but the big winners are really starting to build. At some point it will be time to start thinking of taking profits, but I'm keeping my stops in tight so that might take care of itself if the market drops.
And GO CARDINALS! W00t! Beltran strikes out with the bases loaded and two out in the bottom of the 9th. Man, you can't make this stuff up!
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