Today we removed CYBR from the TA portfolio at a price of 62.20. We also had two removals from the Watchlist portfolio. Both CORT and BSFT were removed at the open of trading today. CORT was removed at 5.87 and BSFT was removed at 34.72.
CYBR closed below our trailing stop yesterday, which is why we decided to remove it from the portfolio. When there is a stop loss triggered, it's best to go ahead and take a manageable loss then wait and wonder if you are going to get back to break even. If CYBR sets up a constructive pattern, we'll take another look, but in the meantime it's probably best to focus on our current open positions.
As we scan across our open positions at the close, there seems to be a common theme with the best performers of the day. They were mostly pharmaceutical related. SUPN, OSIR, and FLML performed well today and kept their trends intact. GTN and FLY also held up well.
We mentioned yesterday that several names would be removed from the watchlist. Currently there are only 11 names left on the list which was updated today. We actually added one new symbol today which was MDXG. SCLN, a pharmaceutical stock, tried to move out of it's trading pattern today. We'll keep a close eye on it tomorrow because there's a reasonable chance that it could be issued as a trade for the TA portfolio or the Watchlist portfolio.