Decided it was about time to get rid of quite a few stocks on my public list and make room for new ideas. That’s what trading is all about. Being objective. Being open for new ideas. Leaving one’s comfort zone. Leaving one’s comfort zone is an important concept I will write about more in-depth in the future. The reason for it being so important is that it yields the best performance. Think ‘crowded trade’ versus buying ‘new stuff’ and being exposed to ‘information risk versus price risk’. Another topic I need to devote an entire post to… In the meantime you might want to review my post centered on embracing ambiguity.

Quick recap of the new additions and removals. It will take a few hours until the public list is up to date. I will start adding the new charts as soon as this post is published:

Removals:

• BGC.V – Brazilian Gold: Technically speaking the stock is dead. Too much technical damage.
• BIM.TO – Baffinland Iron Mines: Too much overhead resistance.
• BOW.V – Bowmore Exploration: Nothing happening here. Stock will only be back on the list if news is published and the stock reacts well to the news.
• CAN.V – Canaco Resources: Stock is trading in the middle of nowhere. No immediate pressure.
• CAST – China Cast Education: Not enough pressure. I am closely watching CAST and CEU in the background until the technical picture changes.
• FEED – AgFeed Industries: Too much overhead resistance.
• HEAT – Smartheat: Going nowhere.
• LSG.TO – Lakeshore Gold: Too much weakness. Better looking gold mining charts out there.
• SEED – Origin Agritech: Too much overhead resistance.
• SGG – Sugar ETN: Stock is breaking down. Not interested anymore.
• WEE.V – Wavefront Energy: I don’t like the stock’s personality.

I am still monitoring all those stocks along with several hundred other stocks in the background. The fact they came off my public list doesn’t mean I am not willing to put them on again. They simply need to convince me to do so. The only way to convince me is price action.

Additions:

• APKT – Acme Packet: Good looking semiconductor stock. Potentially a new leader.
• ARUN – Aruba Networks: Same here. New stuff. Potential to lead the markets higher.
• FBT – Biotech ETF: Biotech is the best performing sector. No overhead resistance. I am not exactly willing to play single biotech stocks. This ETF would be a way to mitigate risk.
• FPX.V – First Point Minerals: Nickel stock with the least immediate overhead resistance.
• RIO.V – Rio Alto Mining: Good looking chart. No immediate overhead resistance.
• SLI.V – St. Elias Mines: Good looking chart. No immediate overhead resistance.
• SPU – SkyPeople Fruit Juice: China food. No significant overhead resistance.
• SWC – Stillwater Mining: I prefer ELR.TO – Eastern Platinum which is showing a bit more technical strength. This one offers much better liquidity though.
• XRA – Exeter Resources: Not looking too bad.
• YUII – Yuhe international: China Food / Poultry stock. Not much overhead resistance.

Do the trade that makes you puke. – Paul Tudor Jones

Have a great evening!