I was a little nervous as to how the markets would react this holiday week, especially when you take into account that I was holding 7 positions over the weekend. I used today's bounce to unload almost all of my existing positions.
Since we are at the halfway point of the year, I decided it would be a good time to have a fresh start. This will provide the opportunity to rid myself of any biases from existing positions and an overflowing watchlist. I plan to totally revamp my watchlist over the next few days, cutting out stocks that no longer meet the setup criteria that placed them on the list in the first place. On to today's trades:
I sold 500 shares of SRDX at $50.20 (entry at $45.54) for a $2330 gain (+10.2%). I had entered based on my short squeeze setup, and the stock performed beautifully.
I sold 250 shares of OII at $53 (entry at $51.14)for a $465 gain (+3.6%). Entry was based on a simple pullback from trend setup.
I sold 250 shares of MT at $64.25 (entry at $61.35) for a $725 gain (+4.7%). Entry was based on a simple pullback from trend setup.
I sold 300 shares of EWZ at $62.63 (entry at $60.35) for a $684 gain (+3.8%). Entry was based on a simple pullback from trend setup.
I sold 500 shares of RIO at $46.10 (entry at 44.65) for a $725 gain (+3.2%). Entry was based on a simple pullback from trend setup.
I sold 200 shares of NILE at $63.04 (entry at 58.45) for a $918 gain (+7.9%). This was a short squeeze setup.
Total profits today: $5847 (less approximately $15 per round trip trade and margin costs).
I am still holding HEI, which has yet to make a decent profit or hit it's stop. Although I cleared out today, I still like all of the positions I exited, and will likely re-enter a few of them once I redo my watchlist.
You can see my entry explanations by clicking the "trade" label below.