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Category Archives: What to Write in a Journal
Molycorp loses momentum
Looks like the bulls are leaving Molycorp (MCP) for now. I don’t have a position and won’t deploy any cash until I see where it finds solid support. It needs to hold above $4.55 to avoid triggering a monster head … Continue reading
Baidu finds temporary support
Buyers of Baidu (BIDU) are stepping in around $155 and I am dipping my toes for a very quick trade. I have an initial target of $160 and ultimately $165 where I expect sellers to come in again. I plan … Continue reading
Bank of America, another failed pattern
Yet another failed break out as Bank of America (BAC) gave back last week’s gains in the previous two sessions. It appears to have found support around $17.30 for now while sellers lurk around $17.60. Holding above $17.60 would be … Continue reading
Molycorp sellers step in
On Friday, sellers pushed down shares of Molycorp (MCP) after it attempted to break to the upside from a five day pennant. It sold off quickly as sellers stepped in around $5.20. Shares are now trading below $5, but may … Continue reading
Molycorp getting ready to move
Molycorp (MCP) has been on a pennant pattern for a few days (see 60 min chart) that could resolve today. It could move either way, so patience is key here. If it resolves up, I expect sellers to come in … Continue reading
Baidu Back to the Top
Baidu (BIDU) reached new highs today again after a great rally yesterday. It is pulling back as it found new sellers around $190. It now needs to hold above $184 to confirm the inverse head and shoulder pattern that yields … Continue reading
DryShips Rallies
DryShips (DRYS) gaped and rallied higher yesterday to trade above $3.90, where it had been rejected last month. It is set to open above $4 today where potential sellers await. I am preparing to add to my position if it … Continue reading
DBA Target reached
DBA reached my target on Friday and I decided to close my position to raise cash. I expect it to consolidate, and maybe pull back a bit here. Besides, the situation in Ukraine is unsettling the markets and I want … Continue reading
Baidu back up to previous highs!
Baidu (BIDU) broke out off an eight day trading range and moved back up to last year’s highs yesterday. It hit my trigger price around $169 at the bottom of the trading range last Tuesday, but somehow I didn’t get … Continue reading
Baidu back to trading range
Baidu (BIDU) made it back to the December / January trading range after finding support around $150. I expect it to be range bound for a while, but I find it trading and holding above $167 very encouraging. I’ll be … Continue reading
