Today's Trade: EWZ, AKAM and RATE

I sold 500 shares of RATE at $43.44 (entry at $42.53)for a $455 gain (+2.1%).

I sold AKAM at $56.90 (entry at $55.63) for a $508 gain (2.2%).

I bought 700 shares of EWZ at $48.44.

Over the past six months EWZ has been in a solid uptrend with the 20 day MA providing support. There have been a few blips, however the 50 day MA has provided additional support, and the stock has always rebounded well above the 20 day MA. Therefore, my stop will be placed just under the 50 day MA, at $46.20. This is what I call a "trend trade". I am basically ignoring the indicators (RSI looks good but stochastics say overbought) and just following the trend.

I probably could have waited for a slightly deeper pullback, say all the way to the 20 day MA ($47.82). However, when playing a trend with a longer holding time, I don't feel the need to quibble over 50 cents.

Today's Trades: RATE and AKS

I bought 500 shares of RATE at $42.53. The stock spiked up over resistance on strong volume and has now pulled back on diminished volume, printing an ideal NR7 entry.




I bought 500 shares of AKS at $22.08. As you guys know, I love steel right now. I picked AKS from last night's watchlist after the strong volume break above $22, which has been a minor resistance point over the past few weeks.