9-19-13 Comments

Yesterday I did little but add 20% to my CBI position. This morning I did the same to TSLA as it looks like a pocket pivot in development. TSLA end of day volume extrapolation is around 20M shares almost twice average volume. I note Pascal's statement about the number of days to short at a high level that can sometimes mark a market top. Yesterday showed a lot of buying but it was interesting to me that it could not produce a Follow-Through Day. It did clear a hurdle to turn restraint off in the MEM because we close more than 1.25% above the close on the day that turned the buy switch on (9/9/2013). This is a failsafe rally (recognition that the market is rallying without a FTD). With restraint off the exposure count is raised to +4 or 90% invested. A couple of stocks I am watching (SSNC and FIVE) have announced secondary offerings. This can cause a pullback and a possible buy on the recovery. I actually own SSNC and am looking to see if I can add shares.

I am in discussion with Pascal about publishing my watch lists if we can work out the details in the Trading Models (Stock Selection) area of the site. I have not been very consistent about publishing my watch list, so this could provide some regularity to the process.