Thursday, December 12, 2013

LONG IDEAS FOR THURSDAY AND FRIDAY: BGG, WAB, EXC, HOV
SHORT IDEAS: PMT, EW, CRI

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BALT had the second best gain of the dry bulk shippers today, in a big down day in the over all markets, it's moved side ways for a couple of months, building up pressure, and, COULD, break out to the upside. If so, an "Equal Move", COULD, take it to the $6.50 "area".
The top chart shows that it tends to follow the $BDI around, the $BDI broke to new highs for the last two years, soooooooooooo, who knows, one thing is the $BDI tends to be a little, aaaaaahhhhhh, VOLATILE, so there could be a bad reaction to the day in the over nights. 




12/10: Short WAT, target April low, BUTT, watch support at $95.

TRADE IDEAS FOR MONDAY, DECEMBER 9, 2013
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HUN LONG


At Friday HUN broke above daily pattern, which was also weekly and monthly setup so I will use that Friday action for trading plan. We can see that HUN finished Friday action with doji bar (indecision) and I believe that if HUN will see price above Friday high that odds for monthly continuation pattern continuation will increase and in that case I will take it as swing long trade.

Trading plan:
Entry:  $23.53
Stop: Under Thrusday low, then trail
Target area: $25 area
Type: swing trade


CRI SHORT

I will follow weekly bear flag and odds for pull back from 10sma resistance area and also break under daily 20sma support area that can turn in to another weekly selling wave. I think that CRI could see that action if it will break under $69.50 and I hope that at target area we could expect to see 20sma monthly support that could turn CRI into few weeks swing trade.

Trading plan:
Entry:  $69.45
Stop: Over Friday High for initial, then trail
Target area:  200sma daily-20sma monthly
Type:  swing trade


2 Comments:

Jay Jay said...

Nice post.

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