Today's Trades: EWZ, FCEL, GES, HOC, SBGI, PDE

I took profits from my 500 share position in HOC at $60.76 (entry at $57.94) for a $1410 gain (+4.9%).

I sold shares of PDE at $31.73 (entry at $30.28) for a $725 gain (+4.8%).

I sold 500 shares of SBGI at $16.18 (entry at $15.23) for a $475 gain (+6.2%).

I sold 300 shares of GES at $42.13 (entry at $40.85) for a $384 gain (+3.1%).

I was stopped out of FCEL for no gain or loss. I had moved my stop to break even level once it moved up yesterday.

I bought 600 shares of EWZ at $50.43. The stock has broke out of a big base at $50, which has acted as resistance. I hope to annotate a chart tonight, but take a look at the move out of the base on the chart below.

I am holding EWZ, HES, TZOO and HOKU. I plan to go over each of today's exits today or tomorrow.

Amazing Chart: SBGI

I've been holding SBGI for about a week now. My original post was more focused on recent price action. However, if we back the chart up to the last 6 months, we will see one of the most beautiful looking charts one could ever hope to find.

The stock started its uptrend in October. Since that time, it has rarely fallen below the 10 day moving average. That's insane. Even the big correction couldn't slow this bad boy down. SBGI is like Kobe Bryant: you can't stop it, you can only hope to contain it.

I'm looking to add more on any tags of the 10 day moving average. I'm following the theory of my post correction QID trades: keep on doing it until it until it no longer works.

Trades: SBGI, CELG, VDSI, SMSI, RIG

Yesterday, I sold 500 VDSI at $18.24 for a $285 gain (+3.2%). I am still holding 500 shares.

Yesterady, I sold 500 SMSI at $16.42 for a $230 gain (+2.9%). I am still holding 500 shares.

Today, I sold CELG at $54.90 for an $830 gain (+3.0%).

Yesterday, I bought 500 RIG at $80.30 and sold today at $82.30 for a $1000 gain (2.5%). I got lucky on this one.

I bought 500 shares of SBGI at $15.23. The trade is detailed below.

The RIG Trade:
As just about everybody has over the past week, I have been watching oil drillers very closely. While there have been nice moves, very few were trading around support or resistance levels. RIG is one of the exceptions. It formed a "W" double bottom formation and was nearing resistance of this formation at $80. I placed a limit order at $80.10 Wednesday night.

When I checked quotes about a half hour after the market opened Thursday, I saw that the stock was trading at $80.79 without gapping up and assumed I was in at a good price. However, when I checked my portfolio, it wasn't there! For some reason, my order had not gone through. I was royally pissed, as I saw a lot of potential for this trade. As a last ditch effort, I placed a limit order at $80.30 and hoped the stock would pullback. I checked again in the afternoon and saw that it was trading close to $82, and just assumed it never pulled back. It wasn't until much later in the day I realized it had pulled back for a very short period and I did get in at $80.30. My bad mood instantly reversed itself.

SBGI has printed two NR7's in a row (lowest range day in the last 7 days) and is nearing near term highs at $15.50. The stock has been under accumulation during the recent consolidation of its gains as well. This is an early entry before breakout, which I sometimes do if the stock looks really good technically and prints an NR7.