Mike
10-02-2016, 04:21 PM
I was away on travel and returned yesterday. I have updated and uploaded Watch lists. I remained in ACIA, GIMO and EW while away from the market; this leaves me about 60% invested, a level I am comfortable with in the current market. ACIA has pulled back to the 10-week moving average, a level I expect it to hold. A close below this level at the end of the week on above average volume would cause me to take profits. A high-volume bounce might cause me to add to the position. ACIA is on the watch list as a 10-week bounce candidate, a possible place to start a position.
One of the stocks that I have not chosen to put on my watch list is Line Corp. (LN). LN has been behaving well, but their revenues are primarily Yen based. Possible action by the JCB represents too much currency risk for me. I have no inside information that the JCB will act, I just note that the Yen has retraced back to a level where the JCB last acted.
One of the stocks that I have not chosen to put on my watch list is Line Corp. (LN). LN has been behaving well, but their revenues are primarily Yen based. Possible action by the JCB represents too much currency risk for me. I have no inside information that the JCB will act, I just note that the Yen has retraced back to a level where the JCB last acted.