MGM: New Long

MGM MIRAGE [[MGM]] looks good to go here:

For those that are not familiar with the other side of iBankCoin, it is The PPT. In this mysterious place we call The PPT, it is a place where gentlemen gather to print money on a daily basis. The community of traders we have in there is unparalleled to anything I’ve seen in the financial world.

Not only do you get real time trades from professional traders, but you also have access to proprietary screens, research reports, top sectors, ranked stocks, financial data, and just about anything a trader would need for their arsenal.

Just think of The PPT as the iPhone, it does everything! Everything is designed in perfect symmetry, filled with tons of apps (tools) to assist you in your trading. The amount of effort and time put into this project by Fly, Jeremy, & company shows. Everything is detailed oriented, and they do not stop updating the site to make things perfect. The PPT 2.0 will be rolling out soon and I am very excited about the future platform.

I spend the majority of my time inside The PPT, and if you are a member, then you understand why. Here are a few recent comments left in the user notes section.

Seriously, the small fee you pay for the service is worth every penny. And, for you guys who have been around the site for years, this is your time to give back, join the community and help us grow.

The time has come, it is time to become a gentleman.

Stone Energy Corporation [[SGY]] has yet to run like the rest of the gang, so I’m taking an anticipatory trade on a breakout here:

Oil made a solid comeback after the inventory numbers, and oil looks like it’s about to put on a show. I’m playing the freeze with Stone Energy Corporation [[SGY]] .

Note: Also bought some DryShips Inc. [[DRYS]] , and a spec play EEE

This has been one messed up stock to trade the past few months, and I’m not sure if its even safe to trade this name. But, the close today was bullish and I’m basing this trade solely on the chart.

The stock now has all moving averages below price, which provides a bunch of support underneath with zero resistance ahead. I want to see the 200 day hold, and on strength, I may enter with a stop below the 200 day.

It also worth noting the the Baltic Dry index has been steadily moving higher the past few days.

A big move may be coming in AgFeed Industries, Inc. [[FEED]] . Take a look at a two year chart:

This one has room to run, and also happens to be The Chart Addict’s stock of the year. Keep it on your radar.

Disclaimer: Long FEED

The Stock of the year contest is off to a great start as the market lit shorts aflame today. Fortune8’s picks STEC, Inc. [[STEC]] soared 12% on positive notes from Deutsche Bank.

A gap fill looks imminent and I believe this one is headed straight to $20, maybe by tomorrow.

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As we take a look inside The PPT, here are some of the top ranked stocks to start 2010:

• [[CTEL]]
• Occidental Petroleum Corporation [[OXY]]
• [[CAGC]]
• Legacy Reserves LP [[LGCY]]
• China Automotive Systems, Inc. [[CAAS]]
• TOTAL S.A. (ADR) [[TOT]]
• Hecla Mining Company [[HL]]
• Cimarex Energy Co. [[XEC]]
• GeoResources, Inc. [[GEOI]]
• Chevron Corporation [[CVX]]

I be back later tonight with some more charts, look for them in the comment section.