Friday, March 07, 2008

Today's Trade: GGB

I bought 200 shares of GGB, a steel stock, at $31.30.

I bought 200 shares of JOYG at $67.15.

I lightened up on my DECK and CPLA shorts.

I'll get more in depth on these trades later today. I have enough longs now and will look to add shorts on bounce.

Great guesses with regards to last night's post. The stocks that made it to my watchlist from the breakout scan are LVB, FDG and JOYG.

Guess why I made this trade?



because it is a stock in a good sector and market (steel and Brazil) that pulled back to it's 20 DMA after a strong move up and is near a multi-day support level in the 31.50 area. The Stoch's are near the lows and the OBV is near the hi's.

Nice find...hope it pays you well.

fortune8 said...

OBV is up while the stock is down.

Hitting the middle BB band

STO is becoming oversold.

Looks like it might be a good find.

Only thing is commodities are selling off.