JIVE 1x – 2nd Round Wins

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JIVE was a remount in Feb after getting stopped out for a loss on the first go. See posts HERE This morning JIVE has hit 1x on the remount and I have gone ahead and sold half, raising my stop to break even.

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New Highs

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It never ceases to amaze me just how unpredictable the market can be. Just this weekend during my video review, I mentioned my concern over the pullback and how I felt it could easily go further. With that said, I believed the drop would provide an opportunity rather than a bigger warning. When the drop came earlier this week the underlying stocks in my portfolio and others on watch were  not hit nearly as hard. This led to a Tweet mentioning how the underlying stocks were not as weak as the overall indices suggest. I mention this only because this was not some random prediction but rather unbiased observations. If I had held some grand thesis I don’t believe I would have been able to take advantage of the opportunities.

Today the market is advancing back towards the underside of the 50 day moving average (SPY Daily) and we’re far from out of the woods. While this is happening the underlying strength in beta names is far greater sparking the portfolio to gain close to 1.5% as I write and  pushing it to new all-time highs, not seen since January 27th.

I have no idea where we will go from here but many names are acting well and look to be gaining new momentum. Some of my favorite, Pre-1x setups includ: ACM, AXTA, FFIV, GDDY, GS, INTC, INTT, JIVE, OMN, PYPL, SEV and VMC. I’m long all mentioned and  you can review the setup or trade by plugging any single name into the search button at the top right.

Trade ’em well

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PYPL add

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One thing I would like to do is start increasing my risk per trade. In looking at longer term charts I’ve noticed my win rate is quite high which means I want to capitalize more on those winning  trades, especially if I continue taking 1/2 off at 1x. With this in mind I’ve gone ahead and added  more  shares to my PYPL position. I’ve added an additional 75 shares at $43.29, which means my new adjusted basis is $42.74. I will keep my stop at 39 which means my total risk on the trade is  currently $936.00

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AXTA new add

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I’m taking a position in AXTA here as the setup is quite attractive. I’m pressed for time so please see the chart for more details.

Entry: 31.47
Stop: 28.75
Shares: 250
Risk: $680.00

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