Long Mellanox Tech (MLX) & Position Updates
I honestly should have checked the earnings calendar before buying this stock, but they don't report until after the bell on Wednesday, and since this is a high beta-stock, I'd expect it to move before then. But no way, will I hold through earnings.
Nonetheless, I like how it is trying to bounce off of multiple price support levels as well as the 50-day moving average (which I forgot to include on the chart below). I'll also use that 50-day moving average to trail my stop-loss underneath.
As for my other positions that I currently hold....
I sold half of my Chipotle Mexican Grill (CMG) position at $395 exactly from $378.44, and as I write this, I sold out Home Depot (HD) at $51.50 for that rare 'scratch' trade (in at $51.50 too). both of these positions I have held in excess of two weeks. The other positions, like Krispy Kreme (KKD) is looking a bit skittish, despite just getting in it today. Netflix (NFLX), Tutor Perini (TPC) and Cobalt (CIE) all look fine and show more signs of consolidating at these levels than anything else. Agrium (AGU) has been today's superstar today for sure.
Here's the trade setup in MLNX.