Still Staying Defensive...
I like todays action but I can't trust it. This is nothing more than a bounce up that resulted from the markets becoming oversold. Who knows, we may continue going up and breakout of the down trend. We have a heck of a lot of resistance to overcome and it will not be easy. Personally, I am sitting on the side lines. I cut down a lot of my positions and have even sold many of them completley. Some of the ones I still hold include ATRI, GBR, MNTG, GLDD, and HINT. If you want to play the long side of the fence, make sure you pick some good, strong longs. I am very busy with school so I will not be able to comment on the market or post picks as often as I like. It will probably be like this for most of the spring time. I apologize for this, but I have to do this in order to place all of my focus on my studies and concentrate on finishing the semester.
For now, here are a few longs...
LIFC, TESOF, CPCI, BRKR, BWLD, PPD, MWE
posted by Nick M. @ 6:17 PM
7 Comments:
All the best Nick. These are tough times for the market.
Thanks Tushar. These are tough times and all we can do is be patient and wait it through. Best of luck to you as well. I will be periodically posting here and there and will be checking on your progress as well.
CLWR IPOs today. I think it is a great company. I will pick up few shares after first half hour of trading when under writers sell it. I like their business model. Have you checked it out?
CLWR might be good. It will probably go up on hype alone. Just try not to overpay for it on opening day as it may gap up. It reminds me of APKT and RVBD. I may take a nibble on opening day, but I will wait until it trades for at least 2 to 3 sessions before I really add a significant position.
You may also want to check out OPTR and OPXT. They have recently debuted and they are good longs at the moment.
So far, I do not like CLWR. The close was super ugly and not something I like to see on opening day. I wouldn't touch it at the moment.
I didn't buy CLWR as I didn't like the amount of selling I saw.
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