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Observation Update

Commentary

Today, we added three new positions to the portfolio which brings our total open position total to 14 and roughly 75% invested.  MTZ and ASTE are both in the construction/infrastructure group that continues to push higher.  BABA also appears ready to make a new leg higher after posting solid earnings.  Below are the charts.

Portfolio Summary

In the last few days, several positions have started to move through prior resistance and possibly start new trends.  SUM, FORM, and AXTI are three stocks that come to mind.  OCLR is also another example that has recently moved out of consolidation.  About half of the open positions, including today's additions, are above their entries by 10% or more.  This is a healthy sign and a positive indication that trades are working.    

Watchlist Summary

The watchlist and screens remain at strong levels and continue to produce viable candidates. Recently, home builders have made there way onto the list such as MDC, CCS, and AVHI. Below are eight stocks from the watchlist for review.  As always, take a look at their weekly and monthly setups to get a feel for the current price relative to their most recent consolidation.

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