Fallond Portfolio: UVE and AMSC out

Although I liked recent market lows as a buying opportunity, it has proven hard to stay in a position without allowing for the level of volatility present in the markets. Both of the stocks exited may be worth a second look over the coming weeks, but both are no longer part of the portfolio - leaving it 15% equity and 85% cash, down from 33% equity.

American Superconductor Corp (AMSC) finished with a low volume bullish doji - but intraday lows were enough to exit the 500 share position for a painful -$975 (-9.22%) loss:



Universal Insurance Holdings (UVE) reversed the mini-breakout, bringing the stock back to triangle support. I had ran a tighter stop than the one from my newsletter, closing the 1,400 share position for a -$434 loss (-5.05%):

Fallond Portfolio: ABAT out

Advanced Battery (ABAT) clipped its protective stop as the stock made a positive test at 50-day MA support - but confirmed a loss of its earlier break of $2.96. The 2,000 share position closed for a +$180 (+3.3%) profit:

Fallond Portfolio: CSCO out

After Tuesday's sell off I tightened stops on the two remaining positions. One of those stops was hit today. Cisco (CSCO) was exited for a +$300 (+3.46%) profit on a 300 share position. The breakout gap may yet hold as support, but my concern was triggered by the relative ease at which $31 support was lost.

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Fallond Portfolio Update

There have been a couple of changes since the market swoon to the extent there are two positions left standing (11% equity exposure, 89% cash). I will be looking to ramp up equity exposure over the coming days. But below are the positions which were exited over the last couple of weeks:

Ascent Solar Technologies (ASTI): My initial impressions for a fresh base have morphed into something larger. The stock is trading in quiet action around the $7 mark and should see some support at the newly formed 200-day MA. The 500 share position closed for a -$280 (-5.93%) loss:



Devry Inc (DV) has chopped around the $33-36 range but has managed to hold the bulk of May gains. The initial position I attempted was stopped out after the first break of $36 failed. The 200-day MA / May gap lows beckons. The 300 share position closed for a -$348 (-3.26%) loss :

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