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11 Aug

Tuesday August 11, 2015

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Good morning. I’m cash in the long term portfolio and looking to put my money to work this week.

I took $105,000 of my 2015 swing trading profit and moved it to Interactive Brokers. This will act as my baseline for this service and performance tracking. The goal is to turn that $105,000 into $150,000 by December 31, 2015, then rebalance for 2016.

Here’s what I’m watching.

GRPN – Outlook unstable and price action into oversold, again, I’m looking for entry around $4 as a long term hold. I’ve done well with Groupon in the past, holding for a few weeks to a few months and believe this is a prime example of how to target long term positions. Deutsche Bank reiterated its “buy” rating on the stock but lowered the price target from $8.50 to $6.40 and that works for me. I’m not in a rush to buy here, let’s see where it bases and then I’ll start in with 2,500 shares, adding 2,500 down the road.

HOTR – Long term this is a solid growth story with the consensus price target of $4.98. Most recently shares broke $2.40 support and are testing the 1 year low, which is precisely where I’d like to buy. My guess is that it’ll base above $1.60 and I’ll start in with 10,000 shares soon. If it whipsaws back to the $2’s, I’ll shift my focus from a long term trade to a passive swing and lock the juicy profit. Otherwise slow and steady here.

UWTI – I don’t think the drop in crude is over but I do believe there could be a short term bounce to target as a passive swing. Right now I’m watching $1.20 support and looking for profit on the way to $1.50. Thinking 20,000 shares here to start and another 20,000 after if it continues to come in with a stop loss below $1.19.

JNUG – Another passive swing I like for a move from $9 – $12 or $3 / share. This is volatile but offers extremely flexible entries and exits. The recent base has confirmed support and with gold moving up I think it’s time for a bounce. I’m thinking 1,000 shares around $9, see if it runs to $12, if it comes in I’ll take another 2,000 above $7.80, stop all below $7.50.

LQMT – With Apple’s even about 3 weeks out I like this a long term swing. Support at $.12 looks stable offering a small stop loss if it continues down. I think it’s in play with AAPL’s special event coming in the week of September 7 where they’ll introduce a new iPhone. Given LQMT and AAPL’s recent 8-k filing, extending their deal, speculation is sure to build as the even draws nearer which could drive this ‘story stock’ higher once again.

 

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