CCJ, BTU, ATI
#1
Posted 01 February 2006 - 11:45 AM
sold longs today in CCJ and BTU...back in on pullbacks and/or moves above the new all-time highs
sold ATI this week - same reentry method
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reentered UPL long on the pullback last week...let's see if it can break above the top of the rising trend channel on the weekly or that may be the place to sell again.
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RHEO - continue to add lightly on all pullbacks below $11.80...most of the long entry was below $9.00. Note the 20 and 21 ema's are in the mid $10's....so, am going to assume this one is safe to hold long until a close below those ema's...very risky play because awaiting trial data and FDA approval is many months away, but the potential reward may justify the risk since this treatment for dry AMD will be the first available in the U.S.
#2
Posted 01 February 2006 - 01:23 PM
another one I sold longs....having trouble taking out the new all-time high.
Buying pullbacks may make sense, or moves above the high.
#3
Posted 01 February 2006 - 01:51 PM
#4
Posted 01 February 2006 - 04:30 PM
Edited by hiker, 01 February 2006 - 04:32 PM.
#5
Posted 01 February 2006 - 05:56 PM
Cameco reports Q4 results; announces 2 for 1 spit and boosts dividend (CCJ) 79.08 :
Reports Q4 EPS of $0.40, ex items vs $0.21 in Q4 2004; revs rose 45% yr/yr to $522 mln. Co expects consolidated earnings for the first quarter of 2006 to be significantly higher than those of the first quarter of 2005. Co also announced a 2 for 1 stock split and an increase to the quarterly dividend from $0.24 to $0.32 ($0.16 post split).
http://biz.yahoo.com...ameco.html?.v=1
acquisition announced:
http://biz.yahoo.com...catec.html?.v=1
note today's volume on this one-day 8% selloff -
http://stockcharts.com/gallery/?ccj
closed just above the 20 ema and 21 ema on the daily chart (a sustained move below these ema's may increase the risk of bottom picking a long entry in the short term):
20 ema is $72.69
21 ema is 72.44 as of today's close
The new all-time high reached today represents a 61% move from the PnF chart breakout at $51 on August 31.
Note the pattern over the last 3 years to test a level near the 21 and 34 ema's on the weekly...but the wait for such moves can last a long time.
Edited by hiker, 01 February 2006 - 06:01 PM.
#6
Posted 02 February 2006 - 08:25 AM
We are there--
I'm stating tthe course
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
#7
Posted 02 February 2006 - 12:06 PM
Note the pattern over the last 3 years to test a level near the 21 and 34 ema's on the weekly...but the wait for such moves can last a long time.
#8
Posted 02 February 2006 - 12:26 PM
Note that the weekly chart DOES NOT have the 34ema on it. Ai the top is the 8/34 ratio and is a long way from the "0" line, but we are at the critical 21ema and the 5 & 8 are trying to kiss. I have a buy stop that will trigger if the 5 kisses off the 8 by a tad.
mss
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!
#9
Posted 02 February 2006 - 12:39 PM
Just something to think about...and Ted Burge's comments and chart work about CCJ does impact some CCJ buyers and sellers. See page 5 of his site...looks like the next major support lines he has drawn on the CCJ chart are $62.50 followed by $60....his trading method is to buy support and sell resistance:
http://stockcharts.c...445101&cmd=show[s66151004]&disp=O
and $72.50, which was once support, may act as resistance for now until it is overcome.
Edited by hiker, 02 February 2006 - 12:45 PM.
#10
Posted 02 February 2006 - 01:03 PM