Tuesday, January 17, 2012

Stock update and current moves.

FMERWithin the first 1 minute of the open today I got bumped out of FMER for a 7.63% profit. I wasn’t real please with that, but a stop loss is a stop loss and it is suppose to take the emotion out of the game. Funny thing is I do not remember moving my stop loss from $15.83 to 16.01. The daily shown here, you can see a bull flag forming and price is bouncing on the bottom of the flag. I squeezed my stop loss just below that flag and got bounced. The ParabolicSar looks like tomorrow it will fire a sell also. The only other negative is that volume appears to be shrinking. Now if you look at the moving averages they are still good and still indicate a buy, but everything to me looks like it is going to roll over. So I took the profit and banked it. Is that wrong? Never wrong to take a profit the last time I checked. I will keep this in my list and if that bull flag pans out, I will repurchase the stock. The weekly chart, not shown, still looks strong and I expect this stock to actually stall then take off again.

One of the two stocks that I wrote up over the weekend did exactly what I wanted it to do this morning at the open, so my order was fired. I bought FCX @ $43.04 as soon as the bell rung. I wanted to buy it as it passed through $42.70, but it open up at $43.04 with a high of $43.29 and closed at $43.07. My stop loss was set immediately after it was purchased because it was part of my order and that was set at $41.39.

SYYSaturday December 31, 2011 I made mention of a few stocks that I was watching and one of those broke big today with price and volume. Along with that the MACD crossed over to the positive and if you look at price, it has been consolidating since 12/5/11. I made some markings on the daily chart to note the things that caught my attention. Unfortunately, stock price closed .17 cents below what I paid for it, but we got to give it time to pan out.

Brief update on my other positions. HD, Home depot still climbing but MACD crossed over and is looking weak. On the Weekly chart it still looks strong. My only fear is that volume appears to trailing off and it may fall fast at any moment. I will keep my stop loss tight on this one. Ford, F, on the Weekly chart is just getting started on this new up trend and I just hope that it will run a bit before it does any pullbacks. Daily it looks like it wants to pullback and rest a bit but it is just to early to tell. General Electric, GE is starting to rollover. I got a sell signal with the PAR and the MACD. It is possible that GE is forming a bull flag and is just resting for the next leg up, but only time will tell. GE is a watch if your outside looking in. Under Armor, UA, looks like it might not pan out for me. I just bought this position last week so it has no legs yet. I need price to hold above $75.06 in order to have any hope that this was not just a head fake.

These are all the latest moves as of today and you can open the chart below to see every transaction risk and reward below.


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