Written by Patrick McCubbin
Exact Stock Picks
In the portfolio today we had another real nice move with BioScrip, Inc. (BIOS). The stock was up another 3% in a sour market with three times the average volume. We are up nearly 7% since our entry this week and if it keeps up this upside volume we could see a huge gain here.
Our stop-loss order was hit today and we exited Cavium Networks Inc (CAVM). It had made somewhat of a recovery last week after its poor earnings report but today’s selling pressure was too much for it. This stock had a very nice chart going in but buyers retreated and it was time to take our lumps. We are not going to hold a position and hope for the best for there are too many other opportunities out there.
The rest of our stocks traded in a tight range with no news.
The SPX is still sitting in that tight range of between 1115 and 1131. Without any major impetus this will probably continue through the summer. Our goal in these markets is to buy on weakness, and sell on strength. Another important factor to consider in these markets is when you see unusual volume with large price movements. With so little volume in these markets, they can be tell-tale signs of how weak or strong those moves really are. This, along with the technicals on the market, will be the way we trade for the time being.
We look forward to another day of trading in the markets tomorrow. Have a great evening!
TEN Exclusive: Portfolio Update – 8/10/10 is an article from: 
