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Observation Update

Trade Summary

It's been a busy two days now with the sells of FN, RUBI, GDX, and OLED.  After reporting a strong quarter, FN was removed at 35.74 from the portfolio to lock in a solid gain.  As time progresses, a new entry could be established for FN, but in the meantime the plan is to sit back an observe the stock trade.  Today, RUBI, GDX, and OLED were removed.  RUBI at 16.73, GDX at 23.97, and OLED at 56.75.  RUBI was the big disappointment of the day.  After reporting earnings, the stock slashed down to a low near 15.15.  With an entry at 16.92, RUBI was trading below our initial stop price.  Many times earnings will act a price catylist, good or bad.  For RUBI it was negative which is the reason for the price decline today.  Patience did pay off as we waited to take the sell.  RUBI did bounce and during that bounce, the stock was removed around 16.73.  Relative to our entry, the loss was minor.  

Position Summary

Currently, the portfolio remains long IAU, PPLT, SLV, MITK, EBIX, BERY, and OLLI.  It wouldn't be overly suprising to see continued consolidation in the metals for a few weeks.  It's also likely, we'll continue to see consolidation in the stocks.  Below are the current long position charts.

Watchlist Summary

Over the past few days, there has been continued weakening in the watchlist.  As of today, there are 18 candidates.  On the positive side, the main screen and secondary screen continue to hold steady.  In the past, the list would slide quickly with minor market moves down.  As always, when something of note occurs, we'll make sure you're in the loop.  

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