Thursday, February 28, 2008

Trading for 2/29/08

I had one trigger today from last nights post. It was TNH. In reading the post from last night, it may have seemed a bit cryptic. I wasn't sure if this stock would be affected by SEED, which gapped down over 30% today,but it was unaffected. I got in TNH with a limit order at 140 after it broke out this morning.

As you can see, it sold off like many picks this week. I closed the entire position with a gain $3.28 per share. I'll happily take it.

Gold did well today, as did my previous pick, KGC:

After Tuesdays action, which saw many of my picks breakout and then retrace below the buy point, I have been considering sticking to day trades, and taking $1, $2 or $3 per share moves, which are not bad at all. I am usually out of at least half of my position at the end of break out day or the day after, But I don't usually like closing the entire position, lest I miss out on moves like these:

WLT, a pick from 2/11:

CALM, a pick posted on 2/18:

MTL, a pick posted on 2/18 (a pick I passed on by the way)

DAR, a pick posted on 2/11:

JRCC, a pick posted on 2/6 and on 2/24:

Here are some stocks I will be watching tomorrow:

Speaking of past picks that have had good runs, past pick AKS is showing a small, high bull pennant:

Would try BRMN at new highs with heavy volume.


If PCLN breaks out, it could be huge. I thought this would move with CTRP today, which closed up +14%. Maybe tomorrow:

PTEC was also a past pick which I didn't hold long. Since breaking out, it has given back all of its gains. Not a good sign. But it has some overhead resistance at 17, and if it can break that with heavy volume, it's worth a try:

RRC is worth a try when it breaks into new highs:

Although I day traded this today, I would try again, TNH:

Not a great chart, but would try under the right market conditions, TRA:

VIP is at support, which is 36, which is not far from 38, which is where I would try a few.

I have some big news concerning this blog, which will be posted in this coming Sunday evening's post. Please check back then.

Good luck and good trading!

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