There were no buys or sells for the portfolio through Wednesday. As the current overall market continues to find it's footing, few stocks have been able to form constructive weekly charts, which is why we will manage our open positions and allow the watchlist to populate more before making any new trades.
Today has been another exceptional day for EFOI. It continues to trend higher and maker new closing highs. You'll notice on the chart today that EFOI's price bar is painted white. As we've discussed in the past this is generally a sign that the stock is ready to rest for awhile. We will continue to watch and see how EFOI's price behaves over the next few days. In the current environment, it might be wise to remove EFOI from the portfolio if the price starts moving downward from here. Both homebuilders continue to hold up well, as both have made attempts at new closing highs over the last week. Below are the charts of all the current open positions.
SMED this week moved out to new closing highs and has since built momentum over the last two days. As we mentioned above, we are going to wait and see how this market plays out over the next few weeks before we take any new long trades. There are currently 10 stocks on the list which all have strong weekly chart patterns. If the market does gain it's footing over the next several weeks, several stocks on the list will make moves higher. Know your risk and your position sizing, so that when the time comes you'll be prepared.