Update: RGLD, FCX, ICE, AIRN, POT, VLO

Posted on October 15th, 2007 in Long Trade, Stock Market | No Comments »

RGLD - Royal Gold is still looking good holding well above EMA9 and EMA21. It’s still on target to go towards $37. (Original entry)

FCX - Also another precious metal stock play is holding very well. Yes, there was a sell off on Thursday, but the price on Friday did not go lower then the low bar on Thursday and on lighter volume. It may test $112 but then head up again.

ICE - I got stopped out on 10/11 @ $158.3 but I did get a +16% profit. This was a classic top like I speculated that it would attempt to rise to $164.99 which it did on 10/10 and 10/11. On 10/11 it hit a whole number high of $165.00, failed and closed down with wide price spread. I am going to re-enter at $153.20 if the volume looks good.

AIRN - Thank goodness for stops, I got out for a small loss but it could have been much worse. I like the action on Friday when it close above the EMA21. If it can close above the EMA9 on higher volume I will get in again.

POT - Trade is still in play (Original entry)

VLO -Price action on Friday was good. Still on target to $78.52 (Original entry)

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Long Trade: Valero (VLO) Stock

Posted on October 10th, 2007 in Stock Market | 1 Comment »

Yesterday I entered into a long position with Valero at $71.05. There is good technical support as the EMA9 crossed above the EMA21 and the EMA50. Additionally there was good volume pushing this through. Today the price broke past the swing high on 9/6 with 10.6MM shares versus 8.9MM.

My first target was $72.30 which was reached today but could not close above it. My second target is $78.52.

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