Added 5% position or 1/2 in NEM

went long NEM just now at $54.14

will add more on pull-backs

looking for $60-65 as price objective...

will look to stop-out below $51 ish....

MODEL 10 Performance....

Updated performance through Today's close....Model 10 is +8.50% vs. S&P 500's +3.56% since 6/30/12 inception...

Last two weeks you can see Model 10 has really picked up some steam compared to SnP...outperformance has come from being able to short stocks...this is a huge advantage to Technical Analysis and using Charts...Long/Short doesn't matter, high probability set-ups matter...

I will never outperform a straight up raging bull-market, my system and methodology does not allow for that...but I believe over time by being able to consistently be nimble, take what the market gives you, and combining with a proper risk-management system and a technical expertise...you can develop more predictable, less volitile returns....have a good weekend

Covered some CERN...

hindsight's always 20/20 right?  Well, should have closed this short out yesterday but didn't...chart told me it was headed lower, so no harm no foul...I did earlier in the session close out my  short position @ $76.12....I opened this position up at $73.98 & $77.80 so ended up taking about a 0.3% loss....Chart right now is in Limbo, so am awaiting confirmation if it is headed higher or not...to possibly re-position, until then I'll wait on sidelines...

Went out on the week at 55% cash, 25% Long & 20% Short (so 5% Net Long)....so kinda waiting and seeing what SNP next big move is...I suspect we are trying to find a shorter term bottom here (tradeable)...but mkt feels a bit heavy so after a tradeable rally I suspect we have lower levels to be seen...as always I will continue to trade the charts...I like adding to my NOV soon, I also have GDX, RSX, NEM on my potential Buy/Long list...

NOV covering shorts...

Just covered ALL of my NOV short position at $73.50....

I actually went right into a small 1/2 position so 5% of Model 10 LONG position in NOV and got filled at $73.52...will add second 5% position around $71 if we get there...

stop out below $70 most likely...stay tuned

Adding CMG long...

Just bought 10% long position in CMG @ $240.43....

Now

Covering some things

Just covered EEM & EBAY in Model 10 portfolio

covered EEM @ $40.95
covered EBAY @ $49.72

think CERN, NOV, MON & CELG have further to fall!

Now 40% net short...

Nothing's changed

Positioning remains the same...still 60% net short with 20% cash to put to work at some point...mkt remains in choppy pattern.  Will post any changes, but I like my positions at the moment...performance for model 10 has picked up recently with market coming in and a nice net short position...through last friday Model 10 is +8.42% vs. S&P 500 +5.21% since 6/30/12 start date...