On days like today, I prefer to buy pull backs in stocks that have shown power rather than to take mediocre breakouts. The strong survive and are the first to bounce back.
Added a bit to my EHIC position 16.11
It got a nice pop off lows, now to push the highs again.
I'm able to add on these pull backs because I took a larger position into the initial breakout, so I'm playing with house money as I've bought back a number of shares below what I sold.
PBMD:
Entry 2.16
Holding that 4 week avg. This presents a good risk to reward point here.
Was not able to take out hourly highs, lots of shadows at that 3.35 level.
KITE: Kite had a powerful more to end last week. CaRT stocks have been surging (notwithstanding today) I think its appropriate to take a shot at buying weakness here.
Jul 17, 65 calls @3.20
LIFE:
Entry: 22.43, (Small). In for my third run at LIFE. Wide spreads are the norm with this one. It was punished today on weak volume considering the size of the move. I'll take a bite here. Stop is 22 on a weekly close at this point but I'll expect a bumpy ride for the remainder of the week.
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