Tuesday, April 27, 2010

Closed MGI - Holding others...

MGI 
 
Haven't had much time for the markets lately, really ugly day today overall I must say.  MGI was looking great today and I thought I had nailed another one, but its fun was short lived.  After reaching a intra-day high of $3.51, it sunk back to the mid $3.30s by end of day.  I was getting trigger happy at about $3.40 and should have fired there, but by days end the candle looks horrible to me.  It seems to indicate that the $3.40-$3.50 mark was rejected heavily, and its come back down.  I decided I didn't want to hold this for tomorrow, and to get out while I could.  I closed at $3.35.  Another fact for me selling this is that earnings are coming on Friday.  Earnings completely throw out most TA out the window.  A big gap down could just crush my account, and I'm not here to gamble.  I should have investigated that before buying into this.  So, I'm out with a $30 gain, sad when was close to $200 at one point.

TLR

TLR pulled back yesterday after its nice surge and grabbed some of it back today.  I'm still liking this one to hopefully try to test the upper trendline, and will make a decision there as to how strong it looks.

URZ

Not looking so hot, but it did come back to bounce out of that low $1.70 range.  I'm sitting at a loss on this one and it doesn't have much more room to go lower before I'm bailing.

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