Trading Paradigm

Train and Develop Professional-Level Trading Skills

  • ARTICLES
  • FREE COURSE
  • TOP RATED
    • #1 Mindset Course
      • 2ndSkies Trading
    • #1 Funding Program
      • Topstep Futures
    • #1 Futures Broker
      • Edge Clear
    • #1 Stock Newsfeed
      • Benzinga Pro
    • #1 Stock Screener
      • Finviz
    • Recommended Books
  • FAQ
  • TRUTH/REALITIES
    • The Fantasy Gap
    • Proper Expectations
    • Knowledge vs. Skills
    • Entertainment vs. Training
    • Trading vs. Gambling
  • MINDSET/PSYCHOLOGY
    • Natural Biases
    • The Mirror Concept
    • Self-Transformation
    • Failure is Feedback
    • More Mindset Articles
  • EDGE/EXPECTED VALUE
    • Market Methodology
    • Expected Value Formula
    • Asymmetric Risk-Reward
    • Trade Tracking & Review
    • More Edge Articles
  • FREE RESOURCES
  • FREE COURSE: TRADING SUCCESS FRAMEWORK → GET STARTED BECOMING A REAL TRADER

7/10 Portfolio Updates – Sold TZA For a Small Gain; ITEK Plummets on News

July 10, 2017 By Matt Thomas Leave a Comment


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

DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS WEBSITE. PLEASE REFER TO DISCLAIMER.

Filed Under: Matt Thomas Watch List

TRADING SUCCESS FRAMEWORK (FREE COURSE)

SEARCH

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

TRADING SUCCESS FRAMEWORK (FREE COURSE)

SEARCH

#1 Beginner Learning Program

Thomas Kralow Trading Academy - University Grade Trading Education

Read Full Thomas Kralow Review

#1 Trading Psychology Course

2ndSkies Trading With Chris Capre

Read Full 2ndSkies Trading Review

#1 Funded Futures Trader Program

Topstep Trader - Top Funded Futures Trading Program

Read Full Topstep Trader Review

#1 Stock Market Newsfeed

Benzinga Pro - Top Rated Stock Market Newsfeed

Read Full Benzinga Pro Review

#1 Futures Brokerage Service

What is EdgeClear - Is it the Best Broker to Trade Futures With?

Read Full Edge Clear Review

#1 Stock Screener Tool

Finviz and Finviz Elite - Top Rated Stock Screener

Read Full Finviz Elite Review

Risk Disclaimer||Affiliate Disclosure||Privacy Policy||Site Map||Contact||About