Freshening Up for 2017
As 2017 gets underway I want to freshen the portfolio up a bit. I’ve dropped two names that aren’t working. Garmin (GRMN) is sold for just about where I bought it and TASR is being booted because it just doesn’t look like it’s ready to go. This one was sold at a loss of $182.00. A side note about Garmin. We will continue to hold this in our separate managed accounts since it is a dividend, earnings turnaround play for us that I anticipate taking several quarters to play out. It just isn’t something I want to hold in this portfolio that needs to have more beta and therefore the possibility of greater alpha. With the sales, I’ve gone ahead and added several new names. The buying puts me on butter by about 16k, but my live risk, which is my biggest concern is hovering right around 18k or just above my overall profit for the portfolio thus far. If the market were to absolutely fall apart, I’m fine with this as a live risk.
AKAM has a very attractive longer term weekly chart and looks to be attacking highs. I especially like how the MAs are fanning out and aligned in the right order.
ASUR looks to be a new trend break and is just being discovered as noted by the new accumulation on the chart. Since it is so thin, I will use a very wide stop.
Stop: $ 7.00
I have no clue if JIVE is going to be a winner but the bottom formation has been calling to me for some time. I like how it is now above the MAs although they’re still not in perfect alignment. This one will take patience and a long leash as well.
Like ASUR, MNTX looks to be a new discovery. It is super thin and going to be volatile. My stop here, will be very long to stay in through the shakes.
I just can’t help myself adding another semi to the list. The longer term break is very attractive and it looks like the 2nd mouse may get the cheese on this one.