Market closed lower courtesy of TEL and ICT.
TEL looks ok for range trading but range is pretty small too (+/- 5%).
Today's action looks overly bearish.
ICT. Well, I dunno what's going on here. The MSCI inclusion issue perhaps? Looks like range trading too. 4% up, 4% down. Anyway, I am trading issues with more upside bias.
Tuesday, May 31, 2011
Sold my position in LC with the highest aep @0.86. LC closed today @0.89. =(
Proceeds used to buy LPZ. Position in now up from break-even level.
Free cash used to buy URC. Position is also up.
My previous analysis for LC is if closing price is higher than 0.88, it could propel the prices somewhere around 0.98. However, 121(MACQ) seems to pushed the price up at the closing. Breakout entry also says buy if close is higher than 0.89. Let's see.
LCB second day close above previous high(0.94). Breakout entry says buy if close is higher than 0.94.
Missed CEB. Today is probably the start of a new upswing. Daily up, weekly up. No reason not to go long.
Volatility back in BEL and GERI? LR is the weakest among the group.
Volatility is also back in AEV. Not really watching them lately. My attention was range trading mining issues.
Range trade AP. Range is ok but a little tight though. +/- 6%. Drop back to 28 can?
Look for a pullback-entry in EDC? 50EMA pullback perhaps?
Good thing I sold PX yesterday after that ugly-as-fuck candle pattern. Let's see if 20 holds as support. Gap @19.36-19.26. Gap filled: Good. Gap not filled: Better.
Proceeds used to buy LPZ. Position in now up from break-even level.
Free cash used to buy URC. Position is also up.
My previous analysis for LC is if closing price is higher than 0.88, it could propel the prices somewhere around 0.98. However, 121(MACQ) seems to pushed the price up at the closing. Breakout entry also says buy if close is higher than 0.89. Let's see.
LCB second day close above previous high(0.94). Breakout entry says buy if close is higher than 0.94.
Missed CEB. Today is probably the start of a new upswing. Daily up, weekly up. No reason not to go long.
Volatility back in BEL and GERI? LR is the weakest among the group.
Volatility is also back in AEV. Not really watching them lately. My attention was range trading mining issues.
Range trade AP. Range is ok but a little tight though. +/- 6%. Drop back to 28 can?
Look for a pullback-entry in EDC? 50EMA pullback perhaps?
Good thing I sold PX yesterday after that ugly-as-fuck candle pattern. Let's see if 20 holds as support. Gap @19.36-19.26. Gap filled: Good. Gap not filled: Better.