DOVE RALLY HAS LEG?

XRTX

My thesis continued to pan out and my portfolio continued to suck, how depressing! Today's party popper was STX which fell by almost $2.0, after a so-so quarter with a light guidance. This one could become a "chicken rib" (a direct translation of a Chinese expression, which means "it's tasteless to chew, and wasteful to dump". There's a story behind it, but maybe for another blogger) as I do not see near term catalyst. Earnings for the next few quarters are unlikely too exciting either.

Having said that, I have to be truthful to my thesis and continue to add positions as I believe this rally have legs throughout this reporting season. Therefore, I added XRTX today. This one has been on my watching list since 25, unfortunately for me, I did not pull the trigger, until 7 points later. But valuation remains reasonable and it is likely to go up with the overall market. I can see 35 before the season finishes.

CKCM

I also added some CKCM today. The stock sold off after last quarter (weak guidance, what else is new?) and the chart is also a bit damaged. It has started to reverse its downward trend in the last couple of sessions and it could test its resistance at 24 area. If it overcomes its SMA with decent volume, it could go far. Otherwise, I exit.