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Sabrient Select Opportunity Virtual Portfolio

By Sabrient
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Sabrient Select Opportunity Virtual Portfolio

July 20, 2010 –  Closing MON and Watching TEX 

July 20 will go down in history as a crazy upside-down day for the Sabrient Company Outlook Rank, that has been performing so well for us. Low-ranked stocks are up big and many high-ranked stocks are flat to even. For the Select Opportunity Virtual Portfolio, the 3 shorts are all up against my mental stops, and the 2 longs are slightly down. Just a bad day for us.

The market is displaying impressive resiliency. Even though I still expect the market and the 3 shorts to show more downside action in the near future, I’m going to stick with the discipline and close those that have moved too far against us.

I am going to close the new short position MON since it appears to be closing above my $57.00 stop. 

I am also closing TEX at the close if it closes above my $18.58 entry price that had become my new stop price.

Best Regards,

Scott Martindale 

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Note: The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW) nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.

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