SOLD TWB $6.60
BUY AMLN $12.98
BUY BGP $3.28
SHORT USD/CAD
Feature recommendations and performance:
AMLN +4.4%
BGP +7.0%
CAR +4.5%
QEC.TO -3.2%
SIGA +15%
VVTV +7%
WTN.TO +26%
Pharma stocks were on fire today!! Markets were relatively flat today, but my portfolio was up +3% for the day. Not a bad week and June will be my best month YTD. Being selective in this range bound market is critical as there are lots of stocks breaking out and bounching off their trendlines, which makes swing trading very profitable right now. Holding longer term positions is not too bad, but patience is required.
AMLN broke out of a 5 month pennant and looks poised to move higher. All moving averages are below the stock now which give the stock good support and momentum to the upside.
BGP bouncing off upward trendline. This has been a big winner for me before and the stock still looks optimistic. The 50 day MA is right below which provides good support as well as the upward trendline.
I was looking for a nice pop on TWB overnight which never materialized this morning. Came out even which is fine. Actually after I bought this yesterday there was a news release saying that some law office is investigating the board of directors for possible breach of fiduiary duty from the merger. I thought this stock was going to gap down and open lower than my stop but that never happened so I am happy to breakeven on this trade.
USD/CAD has been rallying lately but I think this rally is over and a reversal is starting. Here are the reasons why:
1. Pair has rallied back to its downward trendline which should provide some resistance
2. The daily candle yesterday formed a shooting star and a harami cross, which are reversal candlestick patterns
3. The 50% fib retracment from the decline of the March high to June low is at $1.1650. The high yesterday on the daily was $1.1638, however it traded back down and closed as a doji.
If the pair closes weak today, it would confirm the reversal.
BUY AMLN $12.98
BUY BGP $3.28
SHORT USD/CAD
Feature recommendations and performance:
AMLN +4.4%
BGP +7.0%
CAR +4.5%
QEC.TO -3.2%
SIGA +15%
VVTV +7%
WTN.TO +26%
Pharma stocks were on fire today!! Markets were relatively flat today, but my portfolio was up +3% for the day. Not a bad week and June will be my best month YTD. Being selective in this range bound market is critical as there are lots of stocks breaking out and bounching off their trendlines, which makes swing trading very profitable right now. Holding longer term positions is not too bad, but patience is required.
AMLN broke out of a 5 month pennant and looks poised to move higher. All moving averages are below the stock now which give the stock good support and momentum to the upside.
BGP bouncing off upward trendline. This has been a big winner for me before and the stock still looks optimistic. The 50 day MA is right below which provides good support as well as the upward trendline.
I was looking for a nice pop on TWB overnight which never materialized this morning. Came out even which is fine. Actually after I bought this yesterday there was a news release saying that some law office is investigating the board of directors for possible breach of fiduiary duty from the merger. I thought this stock was going to gap down and open lower than my stop but that never happened so I am happy to breakeven on this trade.
USD/CAD has been rallying lately but I think this rally is over and a reversal is starting. Here are the reasons why:
1. Pair has rallied back to its downward trendline which should provide some resistance
2. The daily candle yesterday formed a shooting star and a harami cross, which are reversal candlestick patterns
3. The 50% fib retracment from the decline of the March high to June low is at $1.1650. The high yesterday on the daily was $1.1638, however it traded back down and closed as a doji.
If the pair closes weak today, it would confirm the reversal.
Comments
2. where's the buy citi? its cheap too!
3. hows your portfolio doing? up or down?
1. Not everything is cheap. What are you talking about? Stocks I trade or all stocks in general? I just like to trade small cap stocks under $10-15. Thats what I like and I'm good at it. Lots of stocks have been hammered so thats why they are cheap if you are asking about that.
2. Yes Citi is cheap, but thats for a good reason. Equity is so diluted in that company. Long term it may be good and recover, but right now, I see a lot better opportunities
3. Portfolio is doing really good! If you've been tracking my performance, you can see how I've done. I haven't felt more confident in my trading!