Written by Patrick McCubbin
Exact Stock Picks
Good Afternoon,
If you look at the S&P 500 it closed today exactly where it opened on June 1st. We have had two months of zero movement with abundant up and down days. What we have tried to do over that same amount of time is to play both sides of the fence and take as many profits as we can. Not every trade we have made has been a winner, and not every winner has been huge. Having said that we are still up a cumulative 43.16% and have profited on 20 of the last 28 trades. Since our average trade is around 5-6k this translates into over $2000 in profits. How have the others done?
The portfolio was all in the red today. In fact, 99% of the SPX was as well. There are no survivors on days like these. We did manage to make a couple of plays though. There are always opportunities when you have severe turns in the markets on both sides.
We exited our position in Atlas Pipeline Partners (APL). This stock has shown some relative strength since our entry. After nearly an 80% rise in price we felt there should have been more volume and selling on a day like this. With low volume this was an indication that very few profit takers are in this position. We decided to take our 5% profit and run. Any trade that ends in a profit is a good trade.
We entered into one new trade today, QuinStreet Inc (QNST). These types of stocks are always on our watchlist. We love when companies report healthy earnings and then get slammed with a sell-off like today. When the seas settle, these stocks usually resume their run. We bottom fished this low and picked up a nice 2.5% since entry.
Tomorrow should offer us another day of opportunity. Have a great evening!
TEN Exclusive: Portfolio Update – 8/11/10 is an article from: 
