My "shooting star" call yesterday on AP was a dud. Shooting stars should have long tails. Good thing I was able to monitor the market today as AP had a blast raising the roof up to 20.45, to a close of 20.35. I plan to hold as permissible, probably buying the dips on this stock. AP outperformed my other "Power bets", EDC and FGEN. Right now, I should be comfortable to hold on to this stock and hopefully be able to correctly read the candlesticks before pulling out.
SCC: I was able to get off SCC at 157 since i noticed Doyts has been unloading piece by piece on the ticker. Did a good thing as the stock closed at 154.8 today. I'll be waiting at 150.95 to reenter.
FGEN: At around 11am, FGEN charts still feeling the resistance at 14.44, and so I decided to sell at 14.12. Will wait for MACD charts to tell a buy signal before re-entering.
EDC shows a small hammer. I hope this pushes the stock price up by tomorrow! MACD suggests it is still in consolidation mode. If ever price increases by tomorrow, it might generate a buy signal.
CMT is the black sheep on my portfolio. Seems like not much is happening with the cement stocks.
PD:
EDC - 1/3
AP - 1/6
CMT - 1/6
cash 1/3
Thursday, October 7, 2010
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