Wednesday, July 2, 2014

Trade Well

If I can trade well the money will take care of itself.

AK Steel continues to be strong. I put on a trade several months ago because I felt strongly that it was going to go up. The problem was that I put on too big of a position too soon. The stock dropped back to trendline and my fear of a gap down caused me to close the whole position. THAT was the bottom. The chart tells the story.

The Baltic Dry Index is due for another move up. It has had a few up days lately. I did a post on the correlation between gold and inflation fears/hopes and the BDR. We'll see if the correlation holds up. Gold is acting strong, as are the gold stocks.

Thompson Creek continues to tease me with the price pattern. I think it will eventually go above resistance for a move to $4 or so. BUT......

It seems like iRobot (IRBT) is going to run out of steam. The volume has not improved on this run up lately. IRBT and the Russell Small Cap ETF IWM seem to track the same though and the small caps have been strong for a change lately. I think the specter of rising rates due to an improving U.S. economy may have to be resolved though.

And finally, energy is due for a pullback and seems to be getting weak. USO and UNG in particular. And this will probably spell a decline for solar as well. SCTY and SPWR.

The charts with notations:

My apologies for the double screen shot.
I am NOT doing it over.

Control risk,

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