What was I thinking trying to play breakout stocks this morning. My two plays immediately started working, and then I felt the homohammer of death. My fault for thinking I could outsmart mother market.
I have two shorts on right now, [[X]] & [[CHL]], both look great.
Update: Sold [[IPI]] calls, and sold [[NIHD]]
Comments »[[TRA]]
Comments »[[GGB]]
Comments »[[QCOM]] is on my watchlist for tomorrow. The 52 week high is 49.50, with the news from [[NSM]] this one should bust out to new highs. Watch out for resistance around the 5 year high @ 51.50, should the stock break that, $60 is a given.
If energy names get moving watch [[WLL]] for a 10 point breakout.
If steel remains hot, go with [[GGB]]
WOW! I have to stop for a second and think about what just happened. This might have been the “funnest” trading day of my life. At one point I could have sworn the DOW was up 600 points, my watchlist was exploding–Everything ripped higher.
You already know the trades I took so I won’t highlight them again. I only have one thing to say, “Thank God for Potash”
Top pick: [[IPI]]
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