Jon Boorman's  Instablog

With this week's volatility and pullback in the market we got stopped on 3 positions:

Whole Foods ($WFM) -11.4%

Continued to decline on good volume following its post-earnings slump, endangering its longer-term trend.

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iPath DJ UBS Copper ETF ($JJC) -5.3%

Invalidated our rationale closing below the $45 level we cited. It's returned to the lower range of its lengthy triangle formation removing the favorable risk/reward we had for our long position.

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BanColombia ($CIB) -3.9%

Again failed to break above its long-term resistance, and with Friday's weekly close below $67, may need to retrace further before mounting another assault higher. Monday's open will be our exit price.

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We have 22 open positions.

We'll review the losing positions first, then the winners. Remember it's the losers we always need to address first, keep them at the top of your screen so you can recognize immediately when something isn't working or has invalidated your entry rationale and exit accordingly. Winning positions require no action as long as they show no change in behavior that threatens the rationale. Just let them run.

Losers first:-

SolarWinds ($SWI) -3.6%

Continues to edge higher following post-earnings sell-off. Remains within consolidation of long-term uptrend.

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MS China 'A' Shares ETF ($CAF) -5.8%

Finally caught up to the declines in the broader Chinese market, approaching first support area.

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Ocwen Financial ($OCN) -6.6%

Some concerns here, closed at its 10wk and 50-day MA's having got there on decent volume, needs to hold.

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On Assignment ($ASGN) -14.6%

Sitting right on previously cited support level of $20.60-20.90, needs to hold or we're out.

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Other marginal losing positions that remain within uptrends and above first support:-

Green Mountain Coffee ($GMCR) -2.1%

St. Joe ($JOE) -4.3%

PolyOne ($POL) -2.3%

Valeant Pharma ($VRX) -1.1%

Sprint ($S) -1.5%

Now let's take a look at some of the winners:-

JP Morgan ($JPM) +4.4%

Continues to act very well, trading at levels that have marked intermediate tops many times in the last 6 years, but showing no signs of deterioration, expect much fanfare if surpassing 2007's high of $53.25.

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Aruba Networks ($ARUN) +8.6%

Although only held for 3 weeks, has felt like we've needed to be extraordinarily patient but we got our payoff this week. This has seen some volatility and noise to say the least, but our entry rationale has remained intact throughout.

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LinkedIn ($LNKD) +29.6%

Fairly shallow consolidation so far of what has been a huge move, could stay rangebound for a while above $150, but still looks strong longer-term.

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Google ($GOOG) +5.4%

Joined the $800 club this week, at all time highs, and still seeing increased volume on the upside.

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Dominion Resources ($D) +3.3%

Who says utility stock are boring? $D has accelerated away from it's consolidation area and our entry point on increased volume and with no bearish divergence evident.

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Other winners that remain open are:-

Michael Kors ($KORS) +0.1%

Time Warner Inc ($TWX) +3.9%

Computer Task Group ($CTGX) +1.0%

Visa ($V) +0.3%

Hertz ($HTZ) +2.9%

Ameren ($AEE) +1.1%

Sempra Energy ($SRE) +0.8%

Wisconsin Energy ($WEC) +1.7%