Going exactly to plan, closed out the remainder of NUS today at 55.25 with an average exit of 54.80 (from 51.10 entry on 3/15/17) for a 7.2% gain. Summarizing the trade, I went long based on the signals demonstrated in early March including high volume, oversold stochastic, and clear resistance level of 51 (see horizontal line above in blue). This made for easy entry at 51.10 and happy to take profits as NUS approached my predetermined target of 55. Looking for the next winner.
Had my eye on WETF today and bought shares at 8.93 as it continued through yesterday’s high of 8.87. Yesterday’s signals including high volume, close above 8EMA, strong bullish candle, and oversold stochastic could be indicating the beginning of a move up towards 10. From here, I would consider adding more on a pullback into the 8.60’s and using the low or 8.30 from 3/27/17 as a stop area. Targeting 10 to take profits.
WETF caught my eye today on much higher than normal volume (19.3MM shares vs a 10 day average of 1.7MM) and the chart looks to be possibly forming a bottom. I like today’s close above the 8EMA and that it is coming out of the oversold stochastic territory. WETF found support in the 8 dollar range in November 2016 and therefore would be logical to happen again in the same area. I’m interested in going long if tomorrow’s session can break above today’s high of 8.87. Would be targeting at least 10 to the upside and would cut and bail if it falls beneath yesterday’s low of 8.30.
- 3/29/17 update – Long WETF at 8.93
Been following NUS for a few weeks and opened a long position at 51.10 on 3/15/17. Sticking with my original strategy, I took partial profits today at 54.72 as I believe the area of 55 will act as some sort of resistance. From here, will close out the position on a pop above 55 or if it pulls back enough to break the short term up trend.
- 3/29/17 update – Sold half of remaining NUS at 54.93
- 3/30/17 update – Closed out NUS at 55.25 for 7.2% Overall Gain
Sold the remainder of MYGN today at 19.50 for an overall gain of 11.3% from 17.21 entry in February.
More to come.
WGO caught my eye this week on Wednesday 3/22/17 when it gapped up nearly 2 points and opened at 29.75 (above the previous day’s open of 29.55) and quickly sold off all the way down to 27.55 which erased the entire gap up, followed by immediate buying and rallying up two points, bringing it back towards the level of the day’s open and ultimately closing at 29.55, two points off the low. WGO also had higher than usual volume that day, about 1.4 million shares versus an average around 600k. On the next trading day (Thursday 3/23/17) the stock again opened higher and and had a high of 30.58 which is a remarkable place to find resistance. See the above chart which I highlighted in blue a handful of times that WGO has reacted with support or resistance at this level. Also seen, the two candles that touch the 200 day moving average (red line) are Tuesday’s and Wednesday’s trading sessions of this week. What does all of this mean? Well, the week started off with a lot of selling pressure followed with a lot of turbulence on Wednesday but ultimately resolved higher for the week. In summary, here are a few things observed this week that I find interesting and could be clues that the stock is about to go higher.
- The 2 point gap up, selloff, and rally on Wednesday 3/22/17
- Huge volume behind Wednesday’s action
- Oversold stochastic for the past two weeks, starting to climb higher
- Approached 30.60 level 3 times in March, numerous times in the past 6 months
- Resolved higher for the week
If I were to be trading WGO, I would want to see a clean break above the 30.60 level in order to initiate a long position. Would be targeting a move back towards 35 and stop below recent lows around 27.50. Also worth noting an upcoming 10 cent dividend, with an ex-dividend date of 4/10/17.
Taking a look at where I stand with CROX, I’m glad to be sticking to my original game plan from the initial trade idea on 3/1/17. After what looked to my eye to be a potential reversal candle on 3/1/17, I first bought shares on the following trading day as CROX continued to be strong and took out the high of 6.94 from 3/1/17. Since then it has sold off a bit and appears to have found some support around 6.50 which is good. Upon making the original trading plan, I had noted that the area of 6.50 would be potential support and thus decided to add shares at 6.57 giving me an average price of 6.68. The stock closed on Friday 3/24/17 at 6.66, two cents lower than my purchase price. From here, I think CROX presents a pretty good risk/reward with an upside target at 8 or above which aligns with the 200 day moving average and a stop level around 6.20, the low from 3/1/17.
Losing trades are the worst. Today’s market wide selloff was brutal with all major averages falling over 1%. Shortly after the open I dumped JWN at 42.15 for a loss. Thought the signals from 2/26/17 were indicating a reversal but I was wrong. Moving on.
I’ve been holding MYGN since 2/15/17 at 17.21 and today took partial profits at 19.04. Slightly deviating from my original plan of selling around 20, but I’ve decided to sell some shares at this level because the stock went up to 19.90 earlier this week (Monday 3/13 and Tuesday 3/14). During this time I had my limit sell order in for 19.95 and was so bummed to come within a nickel two times. Since then, it’s pulled back to the low 19’s and I the reason I took some profits today is because I believe MYGN will find some resistance around the 20 area, which it casually approached this week, but not quite. Maybe I should have set my limit for 19.85. From here, looking to close out the position on a pop towards 20 and using the area around 18.50 as my limit to the downside.
- 3/24/17 update – Sold half of remaining MYGN at 19.35
- 3/27/17 update – Closed out MYGN at 19.50 for 11.3% gain overall
I’ve been watching NUS since March 1 when it transacted an unusually large number of shares. Since then, it’s been clinging to the 51 area without breaking thru having made it within .25 of 51 five times since 2/24/17. Today was the first day it was able to break above 51 and a couple hours into the trading session my stop of 51.10 was hit and my order was filled at that amount. From here, looking to start taking profits around 55 and using February’s low of 47.10 as my stop.