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Friday, March 13, 2015

March Week 2 Review

Doing a recap on this week, $JRN reported earnings that toped market expectations, so we bought back our shares because is still looking good for higher prices, not a large position because we are not fans of cheap stocks.

$MYL broke out on 3x above avg volume, we are adding on todays pullback, but still not a large position.

$BJRI has nothing wrong, is working as expected, we stopped out, per our rules, but if you still have your shares the action looks pretty normal. Probably will buy them back if the markets rebounds.

Market is in a correcting stage as we expected on previous weeks, small caps $IWM bounced strong from 50-day as well as $QQQ but $SPY is still struggling with 205.95 level, if by the EOD $SPY closes above this area next week could be a positive week and we would add on our current positions.

Click to enlarge the graphics. Have a great weekend.

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