QRVO came out of Mike's High Growth list and since I did not have good candidates to ride this bounce, I felt that QRVO was good because:
1. It was not extended far above the 5MA
2. The stock will be added to the S&P500 at the close of today, which will force funds to buy... and many already did!
So, I quickly ran the Breakout Calculator on the long idea and since the results looked pretty good, I entered the trade and sent an email out.
The portfolio is still doing fine, although I am having trouble finding high probability trades that can ride anything more than a short-term trend.
The trade ideas for today are below.
The MYL long is here:
http://www.effectivevolume.com/showt...?8595-Long-MYL
The MBK long is here:
http://www.effectivevolume.com/showt...?8594-Long-MNK
I am still looking at short positions, but mostly ETFs.