Sunday, August 31, 2008

Portfilio Update 08-31-08

Nothing like a good downdraft in the overall market when you have several trades on the bullish side, is there?

1. FFBC: The first profit target was hit at $13.65 and having it close at $13.01 we are still on the plus side with an entry of $12.82. I would like to hang tough to $14.75 on this one and have moved the stop up just under the pivot at $12.46.

2. SGEN: Will if this doesn't trigger by Wednesday, then it will come off the hot sheet and be replaced by something else.

3. TJX: With an entry at $35.89 and it rolled all the way up to $37.20 on Thursday afternoon we were able to get the 85 cent first target. The problem during the down market on Friday, TJX stopped right at the .786 of the last swing. With a stop at $34.90 we can only pray that the hurricane misses most of the oil rigs in the gulf over the next day or so..... The profit target on the second half is $39.02.

4. ISYS: Hit it's first target for 85 cents, right after that on Friday it is now trying it's best to take out the pivot at $43.05. If it does that we would be taking a $2.55 hit on the second under the desk we go ....uhmmmmmmm. $57.53 is our goal for the second half.

5. DXPE: If you take the swing from $37.45 to the last pivot at $54.56 and do your fib work you would find that the target for this trade would be the 1.272 at $59.22. On Friday, as the rest of the market was heading for the toilet bowl, DXPE was moving higher. There is a good chance that this stock could rumble all the way up to $65.14 but without me. 85 cents on the first half and about $4.90 on the second half is good enough for me......A WINNER..... :)

6. DIS: It triggered and we got that first 85 cents, no problem but by a hair, right now the chart pattern is showing that the high on Thursday and also on Firday is right at the .786. The good news is that on a down draft day, DIS held her own, if we can pop above the last pivot we will be on our way to $34.43. Otherwise, we will have to throw the towel in at $31.20.

Most likely SGEN will be dropping off the hot list on Tuesday and with DXPE hitting it's target, we only have FFBC, TJX, ISYS and DIS left in the portfolio, maybe time to go dumpster diving again and see what we can find... :)

No comments: