3 of My Old Friends…

Intel is nearing the Cup & Handle target of 44 (later revised to 46). I took the profit at around 40 (silly me), which was the big picture target established back in 2014. No complaints, as I’d been long INTC for much of the time since originally buying in the low 20s on the 2014 breakout.

intc

I finally took the profit on MZOR this week. This was probably the longest I’ve ever held onto a momentum play. It’ll probably go higher but I am using more ETFs and less stocks now to play out this market’s end game. This was also a breakout from a Cup & Handle back in the spring.

mzor

No lackey itself, LACDF harpooned my target of 1.60 and kept on going, settling back down around said target. I sold at 1.45, which was good enough profit at around 80%.

lacdf

So there is my tale of 3 momos, two of which I sold too soon and the other, quite possibly as well. In a manic market, the theme for me is to find them before they go manic and then sell to the casino freaks chasing them now. I added a couple other former holds back today on their pullbacks but again, am using ETFs more now to play out this market’s blow off.

It’s just my preference because lately I’ve had enough bad trades to take a message from the market that it is not impressed with me as it rotates like crazy between sectors. Pumping here, dumping there. But I am not so good at day trading it. I looked at NDX just yesterday and said to myself “self, that thing is testing its Ascending Triangle breakout support, maybe you should buy it… with leverage.” I didn’t listen to myself. That’s the kind of market this is; it’ll get your head spinning with inner voices if you’re not careful.

All part of the end game, which can go on indefinitely IMO as less experienced investors buy the stories that are coming fast and furious now. I wouldn’t short this thing but I sure will continue balancing, rotating (some ideas in NFTRH 471 perhaps) and keeping aware of the process.

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