Trade: BA

I entered BA today post breakout from a triangle pattern. The stock seems to be forming a Tight Flag post breakout.

I am also short IOC, SPY and RL

I am looking to enter ACI

Coal, and ACI, have been on fire of late. It's tough to find a good entry, so I may just enter on today's break of a bull-flag pullback.

Another Coal/Solar Trade Candidate

The chart speaks for itself. Ideal entry is at the bottom of the trading range.

Today's Trade: PCX

I entered 400 shares of PCX at an average price of $8.66.  My stop is around $7.40 and my initial target is $10.50.  This gives me a 2:1 reward to risk ratio.  

As noted in the blog and report last night, the coal sector looks great and PCX shows strong accumulation and a bull flag setup.

Those looking to enter can do so at this level or better yet, on a slight dip.

Sector Watch: Coal

Coal is currently one of my favorite sectors for long trades. Among coal stocks, PCX has one of my favorite patterns. Entry at the bottom of the bullish flag consolidation range is ideal.

Today's Trade: EWZ

I bought 200 shares of EWZ, the Brazil ETF, at $91.61.

Setup: Bullish Flag post Breakout-Breakout Pullback. The stock pulled back to the top of the breakout level, which is also where it broke resistance. Recent volume pattern is strong and obv has increased as stock has pulled back from breakout. As a plus, all things Brazil have been on fire.

Risk: My initial target is the old high around $95. I will either take full or partial profits at this level. If I feel the stock is ready to breakout to another new high, I'll keep a position. My stop is just under price support and the 20 day moving average, in the $88-89 range. This only gives me an intial risk of about 1:1 reward to risk, but I feel the probability of the setup is strong. Also note this is the "initial risk". If I decide to stay in for a breakout of $95, my target will be higher.

Concerns: Stochastic not yet oversold, but still is under 50. U.S market could pull down strong region like Brazil. Still, Brazil has great relative strenght compared to S&P 500.

Chart: NVL

NVL is setting up nicely with a high, tight flag after a breakout. An aggressive trader could enter now using a stop just under the flag formation, but I will likely wait for a breakout over $38 on high volume.


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