ABTL was added to the portfolio today at 18.48 risking .50% with an initial stop at 16.83. 5.60% of our capital was allocated for the trade. There were no sells today. Below is the monthly chart which gives a different perspective from the usual daily charts. You'll immediately notice that ABTL has set up a constructive pattern going back to 2004. These are the type of patterns that can produce big winners.
Our current longs are holding in nicely. LXFT moved to all time highs yesterday following a better then expected earnings report. We are now up +50% since the trade was initiated. AAOI continues to trend higher, as well as, LGHI. The one stock not really holding in well is ASC which puts it near a close out. It needs to start trending higher it get back into the 13.15-14 range. Hopefully in the the next week or so it can do just that. If not then we'll remove it from the portfolio and come back another day. EFOI has really held in well and consolidated the recent gains to set up a nice looking chart. We'll not taking many positions, but right now more then ever, it's quality over quantity.
The watchlist has seen a small increase in the number of stocks making the list this week. ABTL was one which we entered as a long position. Two others to keep your eye on are CCS and SMED. Below is the chart of CCS. It's another homebuilder with great fundamental numbers and a similar chart setup as LGHI. Definitely worth keeping an eye on for a possible breakout.