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Down to 3 Open Positions in the Portfolio:

Over the course of the past week or so, I’ve added 100 shares of ROX to bring my average to $1.79 and 10 shares of ZGNX to bring my average to $14.65. No additions yet to LQMT, but I’m strongly considering it as the new iPhone launch in September approaches. All 3 positions are currently green.

Ticker Number of Shares Average Price
ROX 1500 $1.79
LQMT 682 $0.27
ZGNX 50 $14.65

My Thoughts on Some Closed and Open Positions:

TZA – I closed out my position on 7/7. Since My Last Watch List, I added 10 more shares to bring my average to $16.33. I sold half at $16.75 and then set a stop on the second half at $16.33 to guarantee profits. I was hoping this would continue running over $17, but unfortunately, I was stopped out for a 1.3% total gain. I still like the overall thesis on this trade idea, so I’m scouting a re-entry. There seems to be quite a bit of overconfidence in the markets and a lot of potential economic & political turbulence on the forefront.

ITEK – This is a perfect example of why I don’t hold biotech stocks through data readouts. At the end of June, I closed out my position for a solid 10% gain, avoiding the upcoming data release due in July. It’s a good thing I exited when I did because their Glaucoma drug failed, resulting in a 50% drop in share price. This is the beauty of knowing the exact catalysts you’re trading around and the timeframe of the release so that you can (somewhat safely) trade around them. As mentioned in earlier watch lists, I’m only looking to trade the run-ups into such events and never hold through them.

ROX – This is still my favorite holding. Castle Brands reported strong financial results a few weeks ago, was consolidating in the $1.70’s for a week or two, and just popped into the $1.80’s a few days ago. Not only is this a great technical setup, but it has the fundamentals to back it up as well. I’m thinking good news might present itself soon (maybe a contract or buyout), but if not, the technical setup alone might be able to push this into the $2.00’s. Back in early June, shares touched the $2.20’s, and I think this one might have even more range above that level. In my eyes, ROX & LQMT both have “homerun” potential.

1 New Stock to Watch:

WTW (Weight Watchers International, Inc.)

This ticker is a bit higher-priced than the typical stocks I trade, but the trend can’t be ignored. Since March, this has been on a steady uptrend from the $14.00’s into the $34.00’s. I see solid support around $32.00, and if we get a slight pullback to that level, I’ll consider entering to see if this uptrend can continue.

WTW Chart


Matt Thomas

Founder of, Creator of the Trading Success Framework Course & Trading Paradigm Skool Community, and Intraday Futures Trader Using Auction Market Theory & Profiling (Volume & Market Profile).

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