Trade Anatomy Portfolio
+1.53 MTD | +6.07 YTD
13 long | 4 buys | 3 sells
This last week was a relatively active week compared to most. We had 4 additions to the portfolio, as well as, 3 trades removed. On April 7th, I opened 2 short positions, one in RWM and the other in SH. Both were starter positions at 10% each, but by April 13th they were removed for small losses. In total, the positions equated to a -.40% loss in portfolio value. On the plus side was MITK which netted just over 25% and resulted in a +1.25% being added to the bottom line. MITK was initiated on 2/17/16 at 4.88 risking .50% of our portfolio value. Based on the stop, 4.78% of capital was allocated for the position. Below is the chart.
You'll notice the orange triangle near the most recent highs. As I've mentioned in previous posts, the Alert indicator typically marks price points of importance during a trend move. Many times, they are used to sell a position outright or simply tighten my trailing stop. In the case of MITK, it was used to tighten down the trailing stop for a quicker exit if the stock moved downward. On April 8th, MITK pierced the trailing stop, but managed to close above it. On Monday the 11th, MITK again went below 6.20 and was removed at 6.13. Although, the MITK trade has been taken off, the main trend line (cyan) remains intact. On Wednesday, MITK briefly touched the line and proceeded to bounce higher. It's quite possible the chart will remain constructive and offer another trading opportunity.
A few of the other long positions provided some momentum this week as well. With many of the new trades, the key has been patience and allowing the trends to develop for a bit longer than usual. In the current environment, I'm also risking less per trade than if the market had just started moving out of a 3 or 4 month correction with accompanying stock list expansion. As of now, the stock screens are struggling to accumulate to a more historical norm. At some point this changes, but until then I prefer to have a tighter grip on the reins.
Below are few charts of stocks which currently sit inside the watchlist. You can click to enlarge the images.