My Portfolio Update 4/5/2010 | Bulls on Wall Street

My Portfolio Update 4/5/2010

 
Over the past week, I’ve been posting concerns that the market was on edge of a significant pullback.  However, at the same time, I continued to screen for longs.  Until today, I’ve been heavily in cash just in case the reversal did occur. 
 
I’m still cautious that the market has topped but I can’t ignore what the market is giving us… slow turtle move to the upside. 
 
Current positions:
RNWK – I picked up some RNWK last week at 4.91.  At this point, I’m flat, but I do like the strong bounce off of SMA50.  Only concern – weak volume on this move back up. 
 
CPSL – I sold 1/2 of my position today at 2.18 for 3% gain. I will continue to hold the second 1/2 as long as 2.12 supports.
 
MNI – I added MNI for a swing here today at 5.14.  chart

 
DPTR – Long at 1.49 – I like the volume and possible MACD positive cross tomorrow. 
 
VVUS – Long at 9.06 – chart.
 
ANPI – Long at 1.20 – chart
 
EGHT – Long at 1.48. I like the volume and move through last week’s highs. 
 
 
That’s a quite a few positions  (48% cash)- all swings long.  Of course, if the market gaps down tomorrow, I could be in tough position.  It’s very important to know what you’re going to bed with.  Some of these are a little riskier than others, but I look to continue the swing long to the upside in a few.
 
Let me know if you have any questions.

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