Thursday, August 16, 2012

Still long and strong $PCYC...

So basically I spent the entire trading session today shopping. One of the worst days ever! Further I missed my chance to get long $AUMN as it finally broke $4.50 today...big sigh. Also missed $PSX...broke out of a beautiful flag today. Worse still I'm going to miss the morning session as I have a flight in the morning.

None the less, the day was still some what productive as $PCYC managed to put in a decent inside day closing near daily highs as well as new 52-week highs. Also the overall markets broke out today and put in a very decent trend day after ranging for the better part of the past couple weeks. So I remain long and strong $PCYC just trailing up a stop loss beneath intra-day support on the 30 minute chart. I now have my stop a few cents below $60.00.

I think the markets have a lot higher to go. Do not pay attention to people who are saying that the markets are over bought. Just stick to trading solid long set ups until the markets give a very clear and powerful signal that being long is no longer the right side of the market to be on. Keep on checking my blog and I will alert you when that time has come. Until then I remain a rampant bull and will be looking for long swings to add to my portfolio along side my $PCYC position. Speaking of which $PZZI is setting up really nicely on the daily chart for continued upside.

I will try my best to post a watch list tonight as I will be busy packing and getting ready to fly out of Trinidad in the morning.

Good luck and good trading!

No comments:

Post a Comment