Market Comments Submitted by Nick at My Ambitions as a Stock Trader
Submitted by My Ambitions as a Trader and Investor
A bit of a Reversal…
Although we still closed mainly in the positive, all of the indices are bit off their morning highs. Profit taking and the absorption of the positive events may have been the biggest factor. The charts on the indices look indecisive. At this point we can either find support or resistance at this level. Whatever happens, make sure you are prepared and act accordingly.
One stock that sold today was my trade in EEE. I never had a chance to really mention this one, but I picked up a small position in it on 3/16 at around 1.05. I had been holding onto it patiently and decided to sell it today as the chart showed overbought conditions. I ended up selling it at 1.53 for a 45% gain. Not too shabby for a short term trade. If the stock continues building its base, I may jump in again for a longer term trade.
APAC also did rather well and I decided to sell this trade as well for a 64% return (in at 1.70, out at 2.80) I may rebuy APAC as well if it comes down a bit.
Other winners: Most of my mining/precious mineral related stocks are doing well.
AZK, IAG, NAK, RIC, UXG
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