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Observation Update

Trade Summary

There were no trades taken today.  Yesterday, we did enter a starter position in ZIXI.  Typically, the percentage to invest is calculated based on a risk % of .50.  In the case of ZIXI, we decided to risk a percentage that placed our invested amount around 4%.  If ZIXI proves itself, we'll add a few additional percentage points.

Position Summary

The current long positions have spent the last four trading days consolidating their breakout gains.  All are offering opportunities to add-on, but the key is where to set the stop.  Just based on the eye test, MXL looks as though it doesn't want to give up much ground.  If an entry is taken here, a reasonable stop would be 15.15.  At that stop and risking .50%, the portfolio could add an additional 4.8%.  LYTS and RTEC look to be providing entry opportunities as well.  The yellow trailing lines could be used to calculate position size.

Watchlist Summary

Last night, we sent a few charts to watch.  The four sent out are stocks that have had 2-4 days now of price appreciation above there breakouts.  As we watch and observe these stocks, we are looking for more consolidation before committing any capital.  LXFT,which we owned earlier this year, had a nice breakout to fresh highs.  From a weekly perspective, the chart is trending higher, almost on a perfect slope.  Tomorrow, an updated  list will be available to view.  Have a great night everyone!

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