Eganon69 - Interesting Stocks to watch based on TA ONLY!!

[themickey]

Stopped out of BAC.

Your stop is too tight or too loose, depending on where your entry was.
Suggest continue to play this one, in and out as it looks good.
Catch the next valley, exit the crest.
Edit. I note entry at 24.52, you were buying the top....
Discipline.... just buy the valleys and rotate in and out of the same handful of best performers.

 

[eganon69]

I did not, not yet unfortunately.
Its a good call on your part. Still like it?

Yes I still like it. But it's not performing quite the way I expect. Will watch closely even though so far it's profitable.

@themickey. Thanks for the input but my stops rarely get hit unless there really is a need to be out of the position. Will look for a buying opportunity lower but we will see what happens.

 

[eganon69]

My TA in brief today. Gold and gold miners had another rally today with the Japanese Yen having a slight downward move today. Both the Yen and Gold prices have been nearly lock step in line with one another since 8-2016,...Except for today,....so I expect Gold to follow downward tomorrow. Both appear to be starting a new leg to the down trend but have had some strength recently. I expect Gold and the Yen to make significant chart changing moves in the next 2 trading sessions. Either they will both break UP and I will tighten my stop and get out of the SHORT GDX position, or they will both break DOWN and GDX should retest $21 range again, OR, they will cease to follow one another and I will follow GDX and probably get out of the position for a small profit. If Gold rallies more I expect a rally to the $1260 range and then probably break DOWN again. The HOURLY charts for BOTH Gold and the Yen show an overbought situation and there are BEARISH divergences and they are at the Right edge of a short term uptrend (support line) that looks like its going to break back down. If there is a bounce off support and UP then I will probably get out of the GDX trade. But if they break down as I expect then I will see what happens at the $21 area and get out or hold depending on if it looks like it will break below $21. This brings into question what to do about CENX. Had a FANTASTIC day with CENX and that trade alone helped me make a solid gain today as it gained nearly 5% today and broke to new highs. THIS trade suggests further weakness in the $USD is in the future but the $USD and the Yen have been trading nearly MIRROR images of one another. So when dollar is UP Yen is DOWN. If I am expecting Yen to drop then dollar will likely go UP and then commodity trades may take a breather here. If that is the case I may need to book profits on CENX and stay with GDX. If USD breaks down further I will ride CENX and likely have to book small profits on GDX. GDX will need to break below $21.83 for me to feel like this trade has some legs to it.

Trade what you see,

Eganon

 

[themickey]

My call on gold short term (next couple days) hitting resistance head winds, stall, then break out upward. At this point in time this call is based on the fact that price near resistance is not hitting any major selling.
Also I see SPX stalling short term which may slightly spur on gold.
Mining indexes and mining related commodities are rising in lock step with gold.

 

[vanzandt]

Damn EG... you knocked SRPT outta the park bro.
Up 14% AH's.
Sweet.

 

[vanzandt]

Just went SHORT 0.5% risk on GDX @ $22.02. with stop loss at original entry point $22.43. So that makes original trade short a breakeven if I am wrong and this one only 0.5% risk. So playing with some profit here and adding to a winning position.

As far as BOX it looks like a good buy at this level $18.50. Planning to buy into it again...

BOX is $19.60 today.
You're on a roll EG!

 

[eganon69]

BOX is $19.60 today.
You're on a roll EG!

Yep. .

For my 401K I tend to trade with wider stops because i dont like to be so active in that account and I base my stops off weekly charts instead of hourly charts like this account. So SRPT was a HUGE win for me so far there because I left the stop as it was when I entered the trade. But for the purposes of this shorter term trading account and THIS journal I got stopped out on SRPT. So this account is not doing as well as my bigger 401K account. But so far CENX, BOX, and SRPT have done very well. In this account I am only in CENX and BOX. I took profits on GDX last week at $22.21. Got stopped out of NSC last week too.

I have other positions in play that are doing reasonably well too but will stop updating this Journal as there seems to be little interest and its time consuming for me.

Good Luck. Trade what you see,

Eganon