Thursday, August 16, 2012

Current positions and trades I made today

Today I peeled off 1/2 of my $PCYC long (100 shares) into its morning spike at $61.00ish to lock in some profits in case the break out failed. I didn't get the $62.00/$62.50 that I wanted so I took what I got instead. I was tempted to sell the second half too but I took a second look at the daily chart and decided that selling it would be a big mistake! Besides I'm guaranteed a profit. My plan is to just continue trailing up a stop beneath intra-day support levels. At the moment my current stop is a few cents beneath the $60.00 breakout level which should act as support now and has held thus far.

I will be out all day tomorrow; so I'm going to just leave my $PCYC position and hope it doesn't sell off and stop me out. Been busy today, so didn't get a chance to do my nightly routine/scans. So  I will not post a watch list for tomorrow. However, I really love the bull flag forming in $ARUN ahead of its earnings announcement due next week. So keep an eye on it for the $17.00 break out. Also I still like $AUMN long on the break of $4.50 for a swing. I sense a break out in $SLV and $GLD brewing.

Good luck and good trading!

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