A String of One Good Day

You'd think we could get a little follow through on yesterday's rally. You'd be wrong ... along with a lot of other people. DNS -88, -14, -10.

Here's something I'd noticed weeks ago and forgot. Reversals from declining stocks and bottom bouncers weren't working; stocks coming out of consolidation bases in confirmed uptrends were working. Playing the bottom works in a strong market - not this one. I apparently put too much faith in the numbers - numbers that may not even be accurate.

There are plenty of stocks in uptrends so I'll favor them. I'll also try to diversify and move away from tech and oil. Not that petro stocks PTEN, RES, XLE & WLL haven't been a blessing.

CF, GTLS & SSW will get some company. MY and PWER are on tight stops and will be gone soon. Ford and JKS will be gone unless they start behaving. The IMAX spread will expire in two weeks.

Trades:

I rolled the short call up on the IMAX spread to buy some discounted  intrinsic value.

Value-sales portfolio, +51.6%

I sold PWER April calls, -42.11%. I could wait (and hope and pray) on these losing calls, and probably lose even more money. I'd rather just move on to better prospects.

I bought HAYN (f w), MNTA (f w) & RBN (f w) shares and calls.

Reversal alerts: (10), most interesting being NFLX WNR CVGW & LOGM.