DRYS

DRYS is forming an ascending triangle. Waiting for the breakout.



The triangle is pretty large, if it pulls back to the bottom thats a 20 point drop in a $85 stock! I had some before, but sold out. I am waiting for a pullback or a breakout to jump back in.

One reason I don't expect a significant pullback is the Baltic Dry Index, on the other hand the market is due for one.

TEX

Waiting for a breakout past 73.



Sometimes is also nice to look at the pattern in a line chart.

FRE, breakout?

I have been waiting forever for this to break out. This might be the real deal this time. It has resistance at 28. If it can close above this level tomorrow or early next week, then it should able to surpass its next resistance level at 30 and test the 33 resistance. The only bad thing about this break out is the low volume. But then again, low volume means that not all the buyers have come out yet and not all the shorts have been squeezed yet.

STP fails

Sold the crappy STP. Solar is NOT the place to be when oil and commodities are coming down. Might possibly short STP now if it shows further weakness.

Here is a chart showing the break of the consolidation area.

Current Holdings

Long: DRYS, STP, FRE, TEX
Short: FWLT, ISRG

Gold

FYI, I have dumped gold. Although it may eventually trend upward, it has lost all of its strength. Fed will stop raising this week or next time. I still have some DBA, but I will look to be getting out of that as well.

AUY, more gold

Here is another gold miner company that seems to be at a good buying point, assuming the trend continues.



You can manage your risk very easily by placing a stop below 14. Thats 0.30-0.40 potential loss for a 4.00 potential gain. Nice risk/reward.

ABX - Gold Recovery?

Take a look at ABX, a gold miner.



I will list the pros and cons about this stock chart.

PROS

• MACD turning bullish
• Trend is up, stock is in the lows of trend (good entry)
• Decreasing volume on pullback (consolidation)
  

CONS

• Right now it is testing the trendline, going above and below it, but it fails to provide solid support.

• Second MACD green bar is lower than the first, troubling
  
• Williams %R refuses to leave undersold area
  

Right now I own some ABX, probably a little too much for all the concerns I have. I will be a buyer if the CONS are eliminated in the next few trading days.

VIX

Is at a critical point in its trendline.

Coal

Coal is zoom zoom zoooming. Which stocks have more to run?

ACI

Ascending triangle, breakout above 55 would give it new all time highs. Need increase in volume!

ANR

Broke out above the 40 level, I would wait for a test of the 20 DMA before getting in.

BUCY

Testing strong resistance at 105. Breakout with high volume will lead to new highs.

PCL

This one just broke into new highs. The great thing about this stock is that it has been going sideways for a few days now and is very close to its 20 DMA. Either a pullback to 55 would make an attractive buy or blast to new highs on higher volume.

JRCC

Moving sideways right at the new highs. Previous patterns suggest that there will be a pullback before we proceed to new highs. A pullback to 20 DMA or even lower would provide ideal entry.

PCX

This has run up straight for a month and is very extended. There is no support and no resistance so I have no clue what to do without a pullback to the 20 DMA.