Today we removed GSIG and VDSI from the TA portfolio. GSIG was removed at a price of 14.54 and VDSI was removed at 27.85. GSIG broke through it's yellow trending line while VDSI closed below it's blue trending line last week. With the current market weakness, we decided to raise our cash level to near 50%. Below are their charts without commentary.
Over the last two weeks we've had a lot of attrition take place in the portfolio. This isn't anything out of the ordinary but a normal reaction to the most recent volatility in the market. LXFT, SUPN, FLML, OSIR, and SCLN are all holding in quite well. LXFT made a new closing high today, while the others are staying in technically sound trading patterns. Last week SCLN was a welcome surprise. It's not every day that you take a position in a stock and then get to see it move up +14% for you in a day. That trade alone helped keep the week near break even. We never know what's going to happen, but we always trade with a plan. We knew our stop and the amount we were willing to risk. The key is that we trust the process.
Similar to our stock scans and portfolio holdings, the watchlist has also seen a decrease in potential candidates. The list as a whole now sits with only 9 names on it. MBLY and MDXG are the 2 most interesting as of now. MBLY closed higher again today and is a potential candidate as a trade. OXM and EVC which were issued as trades continue to maintain their overall trends.