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9/6 Portfolio Update & Watch List – Locked in Over 30% on LQMT

September 6, 2017 By Matt Thomas Leave a Comment


Review of Open and Closed Positions:

Link to Last Week’s Watch List
Link to All Watch Lists

Open Positions

No open positions at this time

Closed Positions

LQMT (Liquidmetal Technologies Inc): I exited my position on 9/1 for over a 30% total gain, riding this one from $.28 to $.37. I still like this one long term, but it’s hard to pass up a solid 30% gain. I locked it in and I’ll look to re-load in the $.30-.34 region if it pulls back. This one performed just as I expected moving into the upcoming iPhone release. History shows that this stock tends to run-up into these events every single year, and this year was no different. If the event passes without any substantial news regarding LQMT & AAPL, then it will probably retrace a bit, at which point I’d scout another potential entry. The catalyst would then be a bet that the CEO could land a deal with a big-name company like Tesla instead. As mentioned previously, one of the biggest risks of holding securities like this are financings that dilute value of shares, but with such a large cash position, the possibility of that is unlikely. Low risk with massive potential reward.

LQMT Stock

ROX (Castle Brands Inc): I stopped out of my ROX position yet again at $1.37 for a 6% loss. I still feel like this one will bounce up toward $2 within the next couple months, but I just can’t continue to hold as it bleeds out. Every single day it feels “heavy”. With each bounce comes an equal or worse drop. A few days ago, the chart formed a nice symmetrical triangle, but it seems to be breaking below the ideal level I’d like to see it at. It just put in a red candlestick today and is approaching the 200-day moving average at $1.34. If it breaks below that, it could wash out once again and I don’t want to continue riding it down. This is probably something where a news event will send this one soaring soon and I’ll be kicking myself for exiting early, but I just can’t hold a bleeder in the portfolio. If this builds a support level and proves to me that it can hold, I’ll consider a re-entry.

ROX Stock

New Stocks & ETF’s to Watch

LABD (Direxion Daily S&P Biotech Bear 3X Shares): This is an ETF that trades 3X in the opposite direction of the biotech index (IBB). In other words, if the biotech index goes down 1% then the value of LABD shares will rise 3%. Looking at the chart, it seems like IBB is topping out in the $335 region. If it continues to hit its head on that region, it might be worth taking a position in LABD for the dip. Lots of room to fall if the floor drops out. Stop loss would be if the IBB breaks through $335 resistance.

IBB ETF

CDTX (Cidara Therapeutics, Inc.): Even though I think a short-term top might be forming in the IBB, I’m still scouting this biotech stock for a run-up into Q4. My ideal entry price is closer to $6, but I’ll have to see how this one performs over the next week or so. The company has Phase 2 Date For Candidemia due at some point in the last quarter of 2017.

CDTX Stock

APRN (Blue Apron Holdings, Inc.): Recent IPO that has fallen from $11 and is starting to build a base above $5. Short float is nearly 50%, so this one can get frisky if good news hits and/or buyers start coming in. Clear-but patterns like this allow me to enter at support, but exit quickly if that support breaks. There’s lots of potential to the upside if this one can get going.

APRN StockI’m also watching LXU (oversold play building a base at $6) and WTW (long-term uptrend with ideal entry right above $40).

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Filed Under: Matt Thomas Watch List

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