During the trading day Friday, I tweeted the following:
This is the kickoff of activity targeting a 75% invested portfolio position by the middle to end of this coming week.
SPRT is a position that was previously held in the portfolio and a company that I have 8 years of experience with. I previously initiated the position on January 29th at roughly 2.60 and sold on March 29th at approximately 3.15 for a 20% plus gain.
The upside target is once again above 3 and perhaps more if market conditions continue to improve.
I need long side exposure while at the same time keeping my risk profile intact. I am looking for opportunities but want to be sure that my risk isn’t infinite should my trend indicators be in whipsaw mode, with the market attempting to retest the June lows sometime in the coming weeks. Given the conditions, these types of contingencies always need to be considered.
Brings me to my next point: My short-term trend indicator did turn on Friday. More importantly, my long-term trend indicator doesn’t look like it will turn to the bearish side, signalling the portfolios to move into a 100% cash position. Both of these mechanical events brought me a sense of inner-peace on Friday. I enjoy putting money to work and I see opportunity in this market that would make me despise sitting in cash. Friday brought relief…for the short-term at the very least.
I am constructing pieces of the research report for the newest small-cap opportunity currently. It will be released no later than Wednesday. I enjoy sharing these opportunities with all of you and look forward to witnessing the success of this most recent small-cap investment opportunity over the next several months and possibly years.
As usual, tomorrow I will be presenting the weekly chart review to assist in navigating the markets during the week ahead.
Enjoy your weekend.