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SKI, at this juncture on AEM I'll watch the next P/B. It is looking nice as it is trying to break a possible triple top.
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Lye,
Sorry about the mix up. When I was clearing out the gain/loss columns after the weekend I deleted all the gains and losses before deleting the stocks that were closed out. Once the columns were deleted first I didn't remember which stocks had been closed out. I usually delete the stocks that were closed out first and then the columns. I'll make the adjustment tomorrow. Right now I'm still thinking about Doug and Santa Claus.THE SKIRACER'S EDGE: MAKE THE EDGE IN YOUR FAVOR
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I should have had it much earlier today but I misread the trigger and thought it was anywhere above 41.70 when in reality it was anywhere above 40.70. I didn't realize the mistake until after I had made the trade. I'm keeping a close eye on it just in case. I still like the play but should have been in a point or so lower. Deron Wagner, the guy who runs Morpheus Trading Group, always says that the more times they bang up against the same resistance the better the chances they have of breaching that resistance in regard to the triple top.Originally posted by Runner View Post
BTW that was a great story about giving your mom and dad and sister those gifts. It always makes me happy to give although I like receiving to.THE SKIRACER'S EDGE: MAKE THE EDGE IN YOUR FAVOR
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Ski,
Considering today's market and the effect on nearly all the stocks I checked quotes for, MED's performance was almost astounding.
------------billyjoeComment
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Nothing personal guys, but I'm shorting MED in the POTW...but I wouldn't dare try it with my real portfolio...jeeeeeeeee---hic.......BwwwwwaaaaaOriginally posted by billyjoe View PostComment
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It was a remarkable day of seesawing back and forth several times between 12.25 and 12.65/12.70. I really thought that after you exited and it went back up to 12.69 that it was going to go off the scale but I think the markets downward pull was just to strong and that the shorts had it in their clutches today. It showed strength by just holding on to whatever gains it had today. Up .65 wasn't to shabby.Originally posted by billyjoe View Post
Webs,
Don't go putting the horns on me please.
THE SKIRACER'S EDGE: MAKE THE EDGE IN YOUR FAVOR
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Originally posted by skiracer View Post
No problemo...I'll most likely be out of it tomorrow anyway. I will also be looking to get back into QLD soon...Doug"Trade What Is Happening...Not What You Think Is Gonna Happen"
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Whiz, I think you must have bought AXS at 33.92 rather than 3.92. Correct me if I'm wrong please. I put it in at 33.92. It's always better to cut your losses short but I do feel that you were a little premature with the exit in BRKR. Of course I'm prejudiced being that I own it but I like the way it finished the day today with the market being what it was today. I'm not so sure that NB is necessarily right with this one but that's what makes a horserace. Alot of volume came in on the long side at the end of the day today. Of course there is still plenty of room for a re-entry below your first entry.
Billyjoe takes the money and runs. Beautiful play Billyjoe. 26% in less than a week is nothing to scoff at and the money in your pocket is always better than giving it back. You can always re-enter. I thought for sure it was going to go off today but no cigar. The shorts definitely had it in their grasp all day today but what I liked was that it held it's own and that there were plenty of buyers picking it up. Today was definitely an accumulation day for MED on over double the average daily volume. I still like it to 15. Doug had a nice day and finished off a great trade with his play in QLD for a 9% gain. Nice going Doug. And Runner comes back off vacation and bangs out a 6% gain in his AA trade. I bought AEM today at 41.80. This one is worth taking a look at and I'm going to post a chart later on tonight explaining my feelings on it. Here's todays sheet:
THE SKIRACER'S EDGE: MAKE THE EDGE IN YOUR FAVOR
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out AEOS 47.03"Trade What Is Happening...Not What You Think Is Gonna Happen"
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Today we took GLD long @ 63.43. This is not a swing trade.Comment
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Ski,
Bought WLT @43.47
--------billyjoeComment
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Hello Ski, sold THQI @ 31.21. RiverComment
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THE SKIRACER'S EDGE: MAKE THE EDGE IN YOUR FAVOR
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Ok.. of the positions you have posted:
SNDK covered @ 45.00
FMD sold @ 71.50
BOT sold @ 160
DCEL sold @ 8.50
Still in APPL, JNJ, XLE
New positions:
VSE @ 19.95, 21.25
X @ 65.50, 70.15
CHNR @ 11.10
ILMN short @ 40.00
MW short @ 38.30Comment
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AEM - long-term ascending triangle
Look at the triangle spanning all of year 2006.
It has been on my "ready to buy" list for a while. I am philosophically opposed to (gold) mining companies because of all the built-in externalities that go along with them. IMO, a mining stock is the worst of all possible worlds (vulnerable to international currency swings, long lead times for revenue generation, "crap shoot" asset discovery, etc.). It's difficult enough to find a stock in a "reliable" (that is, technical) uptrend, so why would I additionally want to deal with so many potential real-world complications. You have to watch any position in a mining stock, whether long or short, like a hawk. So I say: if you want to play with a commodity metal, do so on the NYMEX, but not with a mining stock.
But I really do like the AEM chart! Who wouldn't!Comment
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