First Trade For The Year! (2011)

Entered again into AP after seeing a strong open.

AP - Jan 3

I'm thinking that I might have entered too early, but perhaps to justify this trade I'll just classify it as a position entry.  Since AP is one of my top 3 picks for 2011, I am hoping I have entered just right in time as it regains its positive momentum.  So far, volume is not yet convincing, and the prices haven't reached breakout yet.  Green signals tomorrow would confirm the much coveted BUY signal for this stock. Bought @31.75, but closed 1.24% lower.

Next, I am loving the graph of MPI as it shows a convincing breakout.

MPI on Jan 3

It's a bit bad I was a trading day late to enter this stock.  On a technical basis, MPI has triggered a buy signal at the end of last year but I skipped notice to this since I was more into entering my list of fundamentally strong stocks.  It is only when I saw that current day prices was going beyond the upper Bollinger band, that I got convinced to buy. 

Come to think of it, during the last few days of last year's trade, I was dismayed for not being able to enter MER at my desired price points (now at 240 level).  Good news!  This is my chance to ride the wave as MPI has significant hold on MER.  Not to mention, toll fees have increased effectively at the start of this year. Bought near the close @4.14 (from a high of 4.17), ending just a notch higher @4.15.

2 stocks for a day.  One based on Fundamental Analysis, the other on Technical Analysis.  Hoping to start the year right with the right picks! :)