Tuesday, February 24, 2009

I think we are set for the bounce today

Im going to start some positions in a few from the list near support levels and add to them as they get volume. I will keep tight stops if the bounce and/or volume never hits.
Starters in:
EXM, RIO, SID, MTL, UYG, AKS, FAS
Still holding PCX from yesterday

UPDATE WITH POSITIONS, COST BASIS, AND STOPS

My entries were perfectly timed and I am moving up my stops to protect my gains here, but with little resistance overhead and the financials finally gaining traction I think we have a very good chance of rallying into the close, so I want to give enough room for them to run but I will continue to move up my stops and take some gains as the day moves along. The only one I have taken gains on so far is PCX from the buy yesterday but I am still holding a large position.

Stock CB STOP
PCX 3.09 3.40
EXM 3.5 3.5
RIO 12 12.5
SID 12.6 12.6
MTL 3.35 3.5
AKS 6 6
UYG 2.02 2.15
FAS 4.65 5ish

2 comments:

Anonymous said...

What a day for you man. I didn't check here early today or I might have been on more of those than just PCX.

Jax said...

Thanks! I thought you were on the site or I would have mentioned it when you sent that text.