Wednesday, February 27, 2008

Trading for 2/28/08

Today was a volatile day that ended basically flat. None of last nights picks triggered My recent picks had a mixed day. Some like JRCC rested, others like CF gave back their gains, and others like OI continued their ascent. I am still keeping tight stops and peeling shares off as these go higher. In fact, I was thankful my stops took me out of ACI and CNX yesterday, as I most certainly would have been stopped out of both today for a greater loss. Both of these stocks still look bullish though, and may offer another buying opportunity soon.

The flat day today is actually a good sign that stocks could move higher from here, and it is the end of the month, so it’s possible.

I posted a chart of GLD on February 18, mentioning that it looked like it could break out, and it did. For those holding GLD, you had a good day.

This move doesn’t look quite as strong as the move it made at the end of ’07, but it does appear that GLD may continue moving higher, which is also good for my recent pick, KGC.

In fact, many metal stocks are doing well, like MTL, which I also had as a pick on the 18th.

Here are some stocks that I will be watching tomorrow.

Yes, I just got stopped out of this, but it could offer another buy when ACI breaks out on heavy volume.

Ideally, it should really rest a little before breaking out.

CNX could be worth another try.

CPHD came very close to my point again today, which is at 33.

PCLN has one of the nicest charts out there right now.

AG stocks like TNH could get crushed tomorrow due to a poor earnings report by SEED after hours today. This one could go either way.

Good luck and good trading.

No comments: