Tuesday, June 9, 2015

June 9, Dip buying.

I was not seeing a lot of surge on the momo names today.  My best performing stocks held around even FOLD, TROV, FEYE,  JD,

   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.

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

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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