Quick Summary.... Monday June 18th, 2007

No positions in the FP80 portfolio were sold today.

This was a very low volume trading day today. Almost like watching grass grow today.

One new addition to the portfolio was made at the end of the day. Matrix Service Co. (MTRX) reached the buy point today, long at $27.65.

Portfolio holding Arena Resources (ARD) was the big winner today. Added another 4.6% to the gains already made in this. Brings us to a gain of 12.1% in just a few days.

Align Technology (ALGN) was up another 1.35% today, as was Sturm Ruger & Co. (RGR) up 0.2%.

The recent addition to the watch list; Biovail (BVF) broke out of the triangle pattern I highlighted on the chart in yellow, but notice how it failed to clear the resistance above it. This is why I chose not to play the triangle breakout. Instead we want to see this move above the stronger resistance point before we make a play in this.

Other portfolio holdings had low volume pullbacks today, all minor. All holdings are still in play. A complete run down will be posted later.

Did you notice that the Dow Jones Industrial Average chart on my public chart list showed that we would have resistance to overcome in order to resume our bull run. Last Friday it hit the resistance and pulled back, today it pulled back even more. We need to see the major indices move above their recent resistance levels in order to bring back the confidence (and the big money) that we are continuing the bull run we have been having so far this year.

More later..

FP80