I have also sold quite a few other stocks today after some good gains. FMD and VIVO are out. (Click on the picture of the stock to look enlarge it.) Got a run of 14.89% with VIVO; however, the drawback was I lost 11% of that by selling covered
calls. So, my total net gain was only 3.59% over the 3 months I held the stock. What I should have done was bought back my covered calls when VIVO broke out in mid-January. (NOTE TO SELF: Even if the premium has gone up on the covered call in a breakout, buy it back and ride the stock higher.) I would have much more preferred the 15% gain.
FMD gave me a 40% gain over 6 months even after the 2-for-3 split.It is time to take on new stocks that are breaking out rather than breaking down. So, NSTC was bought today at $14.20 and $14.32. The reason for my buying was my indicator that I use for breakouts popped up on my search. The reason for the upmove was very positive earnings report.
I purchased NTGR yesterday at $26.83 and glad I did. The stock gapped up 3% as of this morning. My reasoning behind buying that yesterday was the following: 1. it has used $25.50 as support 3 times in the past few months. 2. The stock gapped up in late October to $28 and has "consolidated over the past few months 3. Higher trading volume was coming back in to buy the stock 4. the search under my second trading system showed that NTGR was in an oversold area and possibly ready to move back up.
Also note the LQDT has used its 50 day moving average as support and seems to be moving back up again. I still have no idea what is going to happen to this stock.
WW seems to be holding its own after breaking out. It has to digest this fast run-up before moving higher.
Good luck trading. JD
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