RTEC was added to the Trade Anatomy portfolio today at 13.16 with an initial stop at 12.13. We are risking .50% with 6.39% of our capital allocated towards the trade.
On the initial opening this morning, RTEC appeared ready to move out of it's current basing pattern, however as the day progressed RTEC's price gradually deteriorated, closing on the low. It's not exactly the way we want to start a new trade, but that's why we have a defined stop and risk limit before any trade is placed.
With the addition of RTEC, the portfolio is now 17% long with the rest remaining in cash. Nothing of particular interest to report on IPHI or MXL. As always, we'll continue to monitor them accordingly.
By the end of the trading day, only a few watchlist stocks were in the green. The majority are still basing and appear content to do just that. Only one standout today and that was MRCY. It's been very constructive on both it's weekly and daily chart.