As can be seen below, I did nothing yesterday except raise a few stops.
MF spiked downwards at the end of the day, as we can see on the 20DMF. This could have been due to end-of-month operations, but market players are nervous and hence, tightening stops is a good way to compensate for increased risk.
With the new stops, the portfolio average risk on the three long positions is now 1.4%. This means that if all stops are hit, the maximum loss - barring opening down gaps - would be 1.4%.
To be honest, neither of the three positions is doing well: it is as if they had been in a survival mode for the past days.
The new list of long suggestions includes some turnaround stories such as NOK or ELY. ELY has potential to do well in the next months, but it is somewhat extended and it might be difficult to find a safe entry: the stock could decide to "fill the gap," which would bring it 10% below the current price.
I am interested in entering a long position in either BC or ELY today (only a half position in ELY to give room to the stock.)