Market is Bouncing Up - TWM, AGU, LFC, NYX
Posted on January 10th, 2008 in Long Trade, Stock Market |
Like I said the XLF looked oversold which is why I took profits on my TWM for +19% in about a week but I could have may more….but it still a profit. The market turned around this afternoon. We will see a bounce up for the rest of the week but this is not a time to go very long unless your already in the gold stocks. I suggest you wait until next week and buy the SKF to short the financials.
I am buying AGU in the morning for a quick trade. Very positive price action today it touched the support at $65, filled the gap and turned up. My first target is $85.
Also buying LFC which I said on Monday that if it went over $76 on more than 2.6 million shares….and it did today. I’m buying for a trade in the morning. First target is $88.
Buying NYX it went under yesterday’s low and closed above the high of yesterday and on stronger volume - positive close. First target will be $90.



2 Responses
[...] These are all quick trades riding the bounce and they all showed strength in volume and price action. [...]
[...] also options expiration week on Friday Jan 18th which means some volatility. Are we going to get more of a bounce or just fall? Friday’s action was not very good for the broad markets. I might buy a small [...]