Fallond Portfolio: OMNI out

The final position in the portfolio was sold after a close below the most recent reaction low. OMNI Energy Services looks like it will test the 50-day MA, to coincide with oversold stochastics and possible 'buy' trigger (a decent bounce opportunity). The 1,000 share lot closed with a +$1,470 profit (+15.15%).

Collective2

Fallond Portfolio: JADE out

Another stop hit as LJ International (JADE) broke through rising support and the 50-day MA. It has been a scrappy last couple of months for the portfolio - saved by the relatively low equity exposure but underpeforming relative to the S&P. Only one stock remains (OMNI Energy: OMNI). The 800 share lot closed for a loss of -$560 (-6.0%):

Collective2

Fallond Portfolio: INWK out

InnerWorkings Inc. (INWK) made a minor break of support and may develop a more substantial pullback (on what looks to be low volume). For the purposes of my Collective2 portfolio the 700 share position was closed out for a +$1,533 profit (+15.9%) - alleviating some of the damage done by the NetList (NLST) trade. Equity exposure for this portfolio has been reduced to 23% as a result.



To Subscribe to these signals click the performance chart below:

Collective2

Fallond Portfolio update

Heavier volume selling has pushed the indices out of their 3-day comfort zone. I have used this as an opportunity to raise stops for the 3 existing positions in the Collective2 portfolio.

Inner Workings (INWK) has set up a good swing trade opportunity given the narrow range the stock has traded over the past couple of days. The stochastic 'sell' trigger is weakened somewhat by the strengthening bull trend (ADX is on the rise). This could result in a head fake down before the upward trend resumes, but I am not taking this risk and have tightened the stop according to recent day's support.



LJ International (JADE) I have seen mentioned in a couple of blogs of late - including a Wallstrip piece. The stock was one of the few winners on the day as it worked itself off support. I have maintained the original stop but looking for a more substantial drive past resistance.



OMNI Energy Services (OMNI) has retreated back to a support level of a potentially bearish rising wedge, but the stock has a nicely positioned weekly picture (accumulation has been on the rip). If OMNI is at support there should be a bounce tomorrow.




For disclosure purposes I bought JADE at $11.51 the day after I featured it in the portfolio and had owned OMNI until an overzealous stop left over a $1 a share on the table (based on my Collective2 stop). My funds didn't stretch to owning INWK.

Collective2

Fallond Portfolio: NLST out

The last six plays have all closed for losses, turning May and June into disappointing months. However, the most recent loss from Netlist (NLST) was unfortunately the greatest. It is unclear as to whether the low of the day was $2.81 or $3.00 - but the point is mute given Collective2 has registered it as a stop sale. The 2,000 share position closed for an unwelcome -$1,039 (-15%) loss. This is the third play of 117 to register a loss greater than $1,000. Two positions remain, bringing the equity exposure down to 20%. Cumulative losses for the last six picks stands at -$2,760 with +$2,284 held in unrealized gain.

Collective2

Fallond Portfolio: ARII out

Disappointing to see this position exited on the lows of the day given the subsequent bounce in this stock (and the market as a whole). However, the original tenet for the position no longer looks valid after the break - and loss - of $41 left a bull trap. A push above $42 would be needed to negate the bull trap. The 200 share position closed for a -$563 (-6.8%) loss.

Collective2

Fallond Portfolio: REP out

The June 1st Breakout turned out to be a bull trap, breaking below the most recent reaction low on Thursday's close. The 200 share position closed for a -$273 loss (-3.7%). Four positions remain in the account with a 32% equity exposure based on a $100K account. The recent underperformance of this account has to do with the sizable cash position held - but if the market drops hard from here it should leave the account relative unscathed.

Collective2