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Back into Gold - Bought GoldCorp (G.TO)
Friday, May 30th, 2008Decided to go back into Gold via GoldCorp. I see a big bull flag on the stock and it tried to break 10 days ago. Here’s the first daily chart.
The following is the Weekly chat where you also see the flag:
But how about the Gold contract? The following is the weekly chart for the gold contract. I’m hoping for another test of the $1,000 mark.
Sharp system 1-Trading Summary for 05/30/2008
Friday, May 30th, 2008Closed Positions
None
New Positions
| Long Entry | MW | (MW) MEN’S WEARHOUSE INC | ||||
| Entry Price | 30-May-08 | Industry: Apparel Stores | ||||
| Price | $20.63 | The MenG?s Wearhouse, Inc. is a specialty retailer of menG?s suits, and a provider of tuxedo rental product and alteration services in the United States and Canada. As of February 2, 2008, the Company operated 784 retail apparel stores, with 668 stores in the United States and 116 stores in Canada, and 489 tuxedo rental stores. The United States retail apparel stores are operated under the brand names of MenG?s Wearhouse (563 stores) a | ||||
| Initial Stop | $18.57 | |||||
| Risk $ per Share | $2.10 | |||||
| Risk % Cost | 10.2% | |||||
| Risk % Capital | 1.0% | |||||
| Price Target | $22.69 | |||||
| Expected % | 10.0% | |||||
| Risk x Reward | 1.0 | |||||
| Long Entry | SGMO | (SGMO) SANGAMO BIOSCIENCES INC | ||||
| Entry Price | 30-May-08 | Industry: Biotechnology | ||||
| Price | $10.73 | Sangamo BioSciences, Inc. (Sangamo) is engaged in the development and commercialization of transcription factors for gene regulation and gene modification. SangamoG?s gene regulation and gene modification technology platform is enabled by the engineering of a class of transcription factors known as zinc finger deoxyribonucleic acid (DNA)-binding proteins (ZFPs) that can turn genes on or off and ZFP nucleases (ZFNs), proteins that enable modificat | ||||
| Initial Stop | $9.66 | |||||
| Risk $ per Share | $1.09 | |||||
| Risk % Cost | 10.2% | |||||
| Risk % Capital | 1.1% | |||||
| Price Target | $11.80 | |||||
| Expected % | 10.0% | |||||
| Risk x Reward | 1.0 | |||||
Open Positions
None
Sold Partial Interactive Brokers (IBKR)
Friday, May 30th, 2008| (IBKR) INTERACTIVE BROKERS GROUP INC | |||
| Entry Date | 22-May-08 | | Exit Date | 30-May-08 |
| Price | $30.61 | | Price | $32.13 |
| Initial Stop | $30.00 | | Gain % | 4.9% |
| Risk $ per Share | $0.03 | | # Days | 8 |
| Risk % Cost | 0.1% | ||
| Risk % Capital | 0.0% | ||
| Price Target | $34.50 | ||
| Expected % | 12.7% | ||
| Risk x Reward | 134.2 | ||
Nice bounce from the 50sma, locking profit in 50% of my position and letting the other 50% run. Stop moved to break even at $30.60.
For your consideration: New Green Light on TD Bank (TD.TO)
Thursday, May 29th, 2008TD seems poised to continue upwards (disclaimer: I have a position). The stock is strong compared to other Canadian/US banks and has recovered nicely from any bad news in the recent months.
Let’s start looking at the weekly chart
Now, the daily chart - note the new green signal.
Good luck to you.
