Overall 33% stocks and 67% cash and equivalents. Stocks position up 10% this week due to new long entries. Mister Market continued to push to the upside this week and I had no choice but to follow the money.
First up is HMS Systems (HMSY) which was highlighted in last Monday's Investor's Business Daily "Stocks in the News" column. I know this stock from years past and its a great health-care cost-containment play. It recently broke out to a new all-time high at $38, then pulled back. Note that the stock is above a rising 50-day (red) and 200-day(cyan) PMA. No news this past week. I bought 100 shares in each account at about $34.90.
Next up is my old friend RIMM - Research in Motion. The stock has been on a major tear lately, and I picked up 100 shares in each account at about 79.50 on Wednesday. Owing to the major possibility that I top-ticked this trade, I sold 1 June 80 call in each account for $4.50. On a close above $80, this trade will rake in $500 per account in a few weeks time.
Next up is MYGN. Stock is quietly builing a base after a recent earnings related sell-off. On Friday it pierced the flat 200-day moving average on above average volume. In fact, volume was the highest since earnings bombshell back on 5/5. There was no news this week, but I noticed that call volume in the June 35 and 40 calls has been steady with risking open interest. Someone is clearly accumlating this stock in expectation of higher prices ahead. Going into Friday, I was long 400-shares, 200 from my initial entry pre-split at 41, and another 200 shares at $34.50. I added another 100 shares at $35.90 to make it an even 500 shares. I expect MYGN is headed back to the $40 level.
Sure enough, RIMM broke out on Friday and got as high as 80.97 before pulling back. I picked up another 100 in each account at about $79.50 on the way down.