Tuesday, April 17, 2007

Today's Trades: TZOO, GROW, MVIS, FUL, VLO

I sold 500 shares of TZOO at $39.85 (entry at 37.72) for a $1065 gain (+5.6%). This stock was a textbook breakout-pullback play. I bought on a pullback to support after the mid-March breakout, and sold on the new breakout. In the meantime, I was also able to make a few trades within the range that formed post breakout (while always making sure to have a core position while waiting for another leg up).

The stock is again setup as a breakout-pullback, and I may buy on a pullback to $38-39.

I sold 300 shares of GROW at $32.55 (entry at $29.96) for a $777 gain (+8.6%). Here, I traded the post double bottom breakout range, which is approximately $28-33. I might be willing to buy another pullback. GROW is a volatile, and fun, stock to trade.

I sold 1000 shares of MVIS at an average price of $4.60 (entry at $4.04) for a $560 (13.9%) gain. Here is another breakout-pullback play. I bought on a pullback to the breakout at $4.00, and sold the following breakout. Note that I did not sell on the day of the next breakout because the stock was not yet extremely oversold. It hit that level today.

I bought 500 shares of FUL at $27.22. This is a breakout-pullback entry. The stock seems to be holding nicely at the breakout-support level. My initial target is $29.

I bought 300 shares of VLO at $66.48. This is a bit of a risky play, thus the smaller than normal position size. The stock has made a parabolic run and now has pulled back to a short term support level. However, the size of the run makes me think there might be a deeper pullback. My stop will be placed at $63, which is just under the late May consolidation range.

A lot of stocks on my watchlist have been acting as I had hoped they would, but I've been slow to pull the trigger on a few (DGIT, BWLD, SON, JSDA, EWZ, CCOI). I'm going to have to figure out why I held back and pick up my game.

1 comment:

bp said...

Thanks for the heads up on TZOO, I got in some time back and was ready to bail out, but your steadfastness focused me to hold on. And today was payday.... I kept a core as you did but it is nice to take some off of the table to put to work somewhere else....