Guess who's back...
Well I haven't exactly been good about keeping up with this but lets try it again...
One of the biggest problems I have noticed personally in my trading is the unwillingness to pull the trigger to lock in gains when stocks are overbought. I'm constantly trying to update my trading profile...how I find stocks to buy and sell. I try to go from a "top-down" approach. What are the major market trends currently? From there I attempt to identify companies displaying consistent technical signals indicating price direction.
Right now I think the major trend is inflation keyed by oil and energy. So, as far as industries go, I like the oils and precious metals. As for oil I'm waiting for a sell-off before the big summer run. I really like SU and PTR. Both have had excellent returns and both have decent dividends (making them strong long term holdings). As for the metals, I like a couple. Namely GG, SLW, RGLD, and USGL. USGL is the brainchild of the former CEO Rob McEwen from Goldcorp. USGL recently sold off due to some stock subscriptions granted at quite a discount to the current price. During long term trending markets I will typically look for stocks on my list with RSI's of 50 or lower and potential for a MACD crossover. I bought some USGL today at 8.19; I would have liked it at yesterday's price more but didn't have the cash to do it. I'll keep track of it and let you know when I unload.
A couple other stocks I'm interested in but waiting for better technical signals are: ADM, PEIX, DNA, CEO, CKCM and SNDK. Keep your eye on the RSI (below 50 or so) and MACD for the first 4. As for the last 2, wait for RSI 30 and an MACD cross.
Talk to ya soon!?
One of the biggest problems I have noticed personally in my trading is the unwillingness to pull the trigger to lock in gains when stocks are overbought. I'm constantly trying to update my trading profile...how I find stocks to buy and sell. I try to go from a "top-down" approach. What are the major market trends currently? From there I attempt to identify companies displaying consistent technical signals indicating price direction.
Right now I think the major trend is inflation keyed by oil and energy. So, as far as industries go, I like the oils and precious metals. As for oil I'm waiting for a sell-off before the big summer run. I really like SU and PTR. Both have had excellent returns and both have decent dividends (making them strong long term holdings). As for the metals, I like a couple. Namely GG, SLW, RGLD, and USGL. USGL is the brainchild of the former CEO Rob McEwen from Goldcorp. USGL recently sold off due to some stock subscriptions granted at quite a discount to the current price. During long term trending markets I will typically look for stocks on my list with RSI's of 50 or lower and potential for a MACD crossover. I bought some USGL today at 8.19; I would have liked it at yesterday's price more but didn't have the cash to do it. I'll keep track of it and let you know when I unload.
A couple other stocks I'm interested in but waiting for better technical signals are: ADM, PEIX, DNA, CEO, CKCM and SNDK. Keep your eye on the RSI (below 50 or so) and MACD for the first 4. As for the last 2, wait for RSI 30 and an MACD cross.
Talk to ya soon!?
posted by Brian P. Egan at 12:08 PM
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