TradeForGain.com
let’s discuss important aspects of trading such as discipline, money management, psychology, setups, etc.
Bought GoldCorp (G.TO) at 37.80
Thursday, January 31st, 20082008/01/31-Long G.TO @ $37.8, stop loss @ $ 36, risk per unit $1.82(4.8%)
Taking the dip opportunity to get back into Gold. I chose Goldcorp this time because it has been behaving a bit stronger than Barrick.
For GoldCorp I’m entering based on the Weekly Chart, still holding the breakout.
Let’s see how this plays out. Stop is at 36.00.
Trading Idea: Wal-Mart (WMT) - Multi-Month breakout?
Thursday, January 31st, 2008Wal-Mart is getting a lot of attention lately. I first posted about Wal-Mart here and since then it has appreciated almost 7%.
The stock is still well positioned to continue upwards. Here are the Daily, Weekly and Monthly chart for WMT.
Monthly Chart - do you see that volume? The highest of all times.
Sold partial Laboratory Corp (LH), PL +1.1% (7 days)
Thursday, January 31st, 2008=>ENTRY:2008/01/24-Long LH at 73.024, stop@71, risk/unit $2.06 (1.1%)
=>EXIT :2008/01/31 at 73.884, PL +1.1% 7 days
Market is really difficult at this point, hard to milk. Closing this position, moving back into Gold and defensive stocks.
Bought Brookfield Management (BAM.A.TO)
Thursday, January 31st, 20082008/01/31-Long BAM.A.TO @ $32.16, stop loss @ $ 31.00, risk per unit $1.18(3.7%)
Brookfield Asset Management Inc. (Brookfield), formerly Brascan Corporation, is a global asset manager focused on property, power and other infrastructure assets with over $75 billion of assets under management. Brookfield conducts its business through four business units: property operations, power operations, timber and infrastructure operations, and specialty funds operations. Its property operations include commercial properties, residential properties, development activities and property services. Its power generation business is concentrated on hydroelectric power generation, with a small number of co-generation facilities. Brookfield’s timberland and infrastructure operations own and manage over one million acres of private timberlands in Canada, the United States and Brazil. Its specialty funds business develops, invests and manages funds and investments on behalf of institutional and related investors that co-invest in the same types of assets, which the Company owns.
I’m looking for a support bounce on this butchered stock. There seems to be some evidence of support. Stop is in place.
Now, have you ever heard of a CandleVolume chart? In summary, the candles width are based on the volume…
Look at the example below, you will get it– isn’t cool?
And here’s one of our positions, Wal-Mart (WMT), look at the buying points…
