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Long Position in TPC at $12.43 & Position Updates

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July 12, 2012 – Comments (0) | RELATED TICKERS: TPC , AGU , NFLX

I posted the chart earlier in our chat-room real-time as I took the trade, and mentioned it in the 7 Stocks Flying Under The Radar post from this morning as well before taking this trade, but I have to say, that Tutor Perini (TPC) is looking like a stud so far. I have no clue as to what they do, besides being in heavy construction as the only thing I'm concerned with is that it holds the support from the previous breakout that it is testing today, and that I can get out at or around $13.32. 

Should this market bounce here, like it is well overdue to do (six straight days in the red for the SPX), the five long positions that I currently have should do me very well in the coming days. Though, that's in no way a sure thing, but something I'm positioning myself for nonetheless. 

By the way, Netflix (NFLX) - one of the best charts (breakout) that I've seen lately is showing a lot of promise for a move to around $91 or so. 

The biggest disappointment for me today, is Agrium (AGU) which I posted the chart for yesterday. I probably should've been more disciplined with this play, but took some liberties this morning by waiving my stop-loss after seeing the strong gap-down, since for most of this year, gap-downs have been a great source of dip-buying opportunities for the bulls. And with us being as short-term oversold as we are, I decided to give a AGU a "wait-and-see" approach. The stock has come off of its lows at this point, but now looking a bit less desirable. 

Here's the TCU chart.

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