GTN was removed from the portfolio today at 16.10. OSIR was removed at 19.78 and SUPN was removed at 19.41. We added EFOI at 11.18 with an initial stop at 10.27. We also added LGIH at 20.17 with an initial stop of 18.84. With a risk % of .50 for each trade we were able to allocate 6.14% and 7.58% of our account value towards each trade. EFOI was up a massive 40% and LGIH was up more than 20% on the day. Both have been on the watchlist for several weeks and today presented the opportunity to take the trades.
Portfolio Trade Ideas
Several stocks appear to have lost momentum this week which is why they were removed. A few stocks continue to hold in well which include XON, ASC, and LXFT. With the two new additions that leaves us 42% invested across 7 stocks.
Tonight I've included the weekly charts of several stocks from the watchlist. It's important to study and find your trading patterns based on longer term setups. Once you've found an constructive pattern you can then use the daily to determine your entry point as well as your position size for the trade.