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Alert – IDCC Add-On / Entry
IDCC
As we noted last week, we like the recent price action of IDCC, a LT Long Position in our portfolio. Under normal market conditions we would have added to our position last Friday as the stock finished at the top of its weekly range on a fairly strong BO.
However, do to the overall market conditions, we decided there may well be a consolidation phase with markets still very weak. Obviously that hasn’t happened… yet. We are watching this week and if the stock stays strong, or has another high volume up day, we may indeed Add-On to our position… though we would rather see a healthy pull-back toward the now support trends before entry.
We see IDCC as a LT play so we aren’t in a hurry to make an Add-On entry without the confirmation upwards with the ideal consolidation on lower volume.
Coach BD