My last couple posts pointed to a possible correction in the near future. I’m nervous. The last thing i need to have my portfolio blown to bits. In the coming weeks, I will most probably be selective on very specific stocks, trim my positions, or maybe hedge (TZA, UVXY etc.)
Here are some updates on the plays from last week:
BBRY – Anatomy of the Cup and handle breakout
I mentioned last week that BBRY was on the verge of a CNH breakout. Its breaking out, with a possible move to $11. Gettin hot and heavy, quick!
CAMT bullish pennant breakout, and channel play
CAMT did break out of the bullish pennant and immediately retraced from the upper TL in the channel. I took my profits here and will be looking to reload on this one soon for a move to $6.5.
GLD, GDX, NUGT – I very excite!
Look at this weekly chart – very nice! That said look for possible retrace on Gold here. I am holding NUGT and will be watching the charts this week
ARIA – still under $7.75, waiting for the breakout
ARIA made a move past 7.30 only to retrace under $7. A move up should be coming shortly. I reloaded on the dip on Friday. This is now my second largest holding (after GOGO)
GOGO trying to make a come back
GOGO tried to make a comeback on Friday, only to get rejected at one of the resistance points which used to serve as support. I reloaded on the dip and this is now my largest position. Above $22.7 and this is golden. Stop in place.
MSFT breaks out of the falling wedge – rally to ensue?
Wow – that was fast! I think we can expect higher prices from MSFT in the near future.