I covered my 500 share position of BOOM at $30.05 for a $1175 gain (+7.3%). I still feel the stock has room to fall, and may re-enter on weakness.
I've moved my stop on VLO close to the entry point of $51.85. Thus, this will end up being either a break even trade or a winner.
OII went against me in a big way. I entered at $36.05 and the stock has gapped up over $40. I've set a stop around $42, and am hoping the stock pulls back to the gap point, or at least support at $38. I'm lucky I went with a small position size here.
My other previous holdings include AAPL (long) and AKAM (short).
Finally, I bought 400 shares NEM (Newmont Mining Corp.) at $46.15. The stock has crossed over its 50 day MA and has moved up on nice volume with a strong RSI trend. I believe gold and mining stocks have some room to move, and my target for this stock is right around $50, close to the 200 day MA.
4 comments:
what is your stock screening process? how do you generate trade candidates?
thanks and have a good weekend...
borat opening weekend!
Why NEM? - GG is the "gold" standard in the gold fields. It went up 2.20% today while NEM struggled to .61%. Given the price delta you could have bought twice as many GG shares.
Walter: In the near future, I will post my screening process. I've already pointed out that I go through the top and bottom 10 sectors every weekend.
I'm headed off to watch Borat right now :)
John: GG is one of the stocks on my gold sector watchlist. However, I like NEM better because it has more room to run before hitting price and 200 day MA resistance. GG is almost there, while NEM is 5-7 points away.
Ok - I can see that - I don't use the 200 MA I use the 90 EMA -
If you want to see a neat presentation put up a 2 year weekly chart with both 90 EMA and 200 SMA and then look at SPY, NEM, GG or any other stock you care to see. I think you'll see why I prefer the 90 EMA for long term views.
Good luck on the NEM trade - If gold keeps going I think you'll make some.
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