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Last week was a spectacular performance for the model portfolio in terms of paper gains and this week was just as entertaining except the p&l in the portfolio went the other way!
Despite the drop, the portfolio performance since the big deposit remains flat which is good considering that every experimental Options play I had lost money (except for one)--that tells me that I have a lot of room for error and my risk management is not too shabby!
Due to the lackluster Options performance it's back to the drawing board for now. Meanwhile, business as usual with stocks and today I'm looking to add three names to the portfolio, especially since $UBNT did not pan out.
Not sure what the reason was for the $UBNT drop--maybe it was part of the fund raising for the upcoming Alibaba IPO and if that's the case then there was an unintentional cannibalization in the portfolio since the largest holding happens to be Yahoo ($YHOO)! One can only hope the sacrifice wasn't for not since the anticipated IPO is on Friday and who knows how that will affect $YHOO's price.
Moving on, the first best stock pick of the week is $ACT because it has broken out into new highs after about 6 months of consolidation. As far as the traditional buy signal, you don't see it because it happened a long time ago (early August) and it appeared on the daily chart--but that doesn't mean the stock should be avoided because there are many places, and many ways to put a stop.
The second best stock pick of the week is $NVO which mirrors $ACT as far as consolidation and achieving new highs.
The final best stock pick of the week is $XLS which is not a member of the vendor provided list I talked about but I do like the setup here. The risk is higher than the previous two but with my speculative stock at a profit and my biggest position also at a profit I can definitely add another wildcard. I think this one is quite good since it's been above the IPO price since the summer of 2013 and the consolidation was nice and easy. I think this one will resume the uptrend.