Written by Patrick McCubbin
Exact Stock Picks
Good Afternoon,
A nice day of trading in the markets. The SPX broke through another key technical level and it seems a definite trend has been re-established in the markets. How long this will last is not certain, but we are definitely not going to fight this trend. We will continue to stay long and let our winners ride this wave.
In the portfolio today we had some strong action. Astrazeneca (AZN) was up nearly 4% on very strong volume.
DXP Enterprises Inc (DXPE)was up only .5% today, but it continues to show positive performance. This stock is up over 13% since our entry point four sessions ago.
Motorcar Parts of America (MPAA) had a real nice day up 4.55%. It bounced hard off the 50 day moving average and is definitely establishing a new upward trend. We could certainly see a strong run continuing off a day like this!
Manitowoc Co Inc (MTW) was a very nice 3.71% on the day. This stock has been exploding since it formed a double-bottom and if it can break the $11.50 level there is no stopping how high this stock can go! Since our entry pointwe are up over 10%.
NetApp Inc (NTAP)was up again over 2% and is trading well above previously established highs. This stock has strong momentum and should continue this current trend.
We entered into one new position today, Energy XXI (Bermuda) Ltd (EXXI). This stock has been showing some real strength and has just broken resistance after a double-bottom formation. The key here is to break above the $18 level. If it can do that, we may have a very strong run. We have set a tight stop-loss order just in case it tries to retrace the previous low.
We have raised our stop-loss orders on some positions.
NTAP – Moved stop-loss from $40.10 to $43.50
MTW – Moved stop-loss from $9.00 to $10.40
DXPE– Moved stop-loss from $19.25 to $19.50
AZN – Moved stop-loss from $45.48 to $49.00
In today’s market environment, it is imperative to lock in gains and to avoid any losses. Also, by moving up our stop losses instead of selling our stock, we allow them the ability to maximize their gains.
We look forward to another big day of trading tomorrow. We have a number of stocks on our watchlist which are getting close to confirming trends for our entries. The positions on our short list will only be released when this market trend loses its steam. It makes no sense to open these positions and then get crushed. Have a great evening, and we’ll talk in the morning!
TEN Exclusive: Portfolio Update – 7/26/10 is an article from: 
