I’m Back

© www.mcawilliams.com

I took a few days off from the wonderful world of trading to finish up a few projects around the house and just relax.

Now that many of the to-dos  are in my rear-view mirror, it’s time to, cautiously, put one or two toes back in the day-trading pool.

I currently own CPE, long, (bought on MA20 last week) and sold a lot of positions last week for great profits – ICO, HERO, and more.

Watch List Clean Up:

WOW. I really wish I would have played more from this list – especially Friday.  Good grief – the breakouts were numerous.

• PMI - 50MA bounce – as hoped.
• ICO – kaboom
• CENX – double kaboom.
• AES – strong moves Thursday and Friday
• PCX - wow. Where was I all week?
• ARNA experienced massive moves Wed/Thursday. Beautiful day trades.
• ALD – KABOOOOOM  thank you ma’am.
• BEE still interesting.
• ACAS – I feel ill with all of these winners off of the watch list.
• NOVL – still interesting. MA20/MA50 about to collide with triangle.  Looks more like a short than a long.
• MWA – yet, another.
• IM - go go go

Ok, that was painful.  I missed out on so many opportunities that were right there in front of me.  Oh, well – time to look forward – the Watch List is cleaned up and ready for new additions (next post).

Tags: ACAS, AES, ALD, ARNA, BEE, CENX, CPE, HERO, ICO, IM, MWA, NOVL, PCX, PMI

What a Great Day!

Man, oh, man… the Watch List had a big day and continues to perform.  However, just because I post a list of stocks that I’m watching, doesn’t mean that I’ll take a position.  Instead, I like to watch the action of each and then try to pick a few that breakout.  For the stocks I do jump in, I immediately set a stop below the previous resistance/setup.  As it moves up, I raise my stop or set a trailing stop. I try to avoid as much risk as possible…

Watch List Thoughts:

ICO – good day, but not a breakout. I have a position  at $1.94 with a crazy tight stop. I’m hoping for a move on Monday to follow the great move in PCX (also on my watch list)

PLD – looks like MA20 might be the new support.  I might buy and hold for swing with eye on MA20 support.

AES - I’m really interested in a possible swing trade through trendline resistance.

PCX – nice move through horizontal resistance with volume. May have more upside.

FIG – removing FIG from Watch List after major breakout.  There may be more upside, but I’m not looking for entry right now.

GNCMA – still doing the rain dance for a $7.50 breakout.

GLD – yes, GLD moved up today as I hoped, but where is the volume.  CDE or HL was the way to go for a quick scalp.

DIG – watching at $25 horizontal resistance.

ALD – hitting against the top of an ascending triangle – might go long above.

BEE – I’m starting to really like BEE. Accumulation volume and seeing a lot of support on MA50.  Might see an MA20/50 crossover Monday.

LJPC - I’m giving up on this one, for now. I’ll watch from a distance.

NEXM – still strong

MPEL – great move today. Check out the volume accumulation.

BC – BBBBBBBBBBBBBBBBBBBBOOOOOOOOOOOOOOOOOOOMMMMMMMMM.  My play of the day.  Moved well through horizontal support and never looked back.

ALTU - KAAAAAAAAABOOOOOOOM.

Tags: AES, ALD, ALTU, BC, BEE, DIG, FIG, GLD, GNCMA, ICO, LJPC, MPEL, NEXM, PCX, PLD

Thursday Night Update

Hello, all.  How was your trading day?  Did you enjoy the choppiness of the markets or is it driving you crazy?  It’s a tough world.

Watch List Thoughts:

PMI – COME ON!!! When are you going to break through MA50?  I’m still hopeful?

CT – removing from Watch List, for now.  It is sitting on MA20 support and there has been some accumulation.  OK, I’ll watch it from a distance.

ICO – my coal play. Coal moves, I’ll likely pay ICO.

AES - watching to see what happens at MA20/MA50 crossover.  Heavy resistance at $7

PCX – top of channel. Watching at $5

FIG – KKKKAAAAAAAAAAAABBOOOOOOOOMMMMMMMMMM . I’ve have been sitting around waiting for the trendline resistance breakout. Finally got it.

GLD – My thoughts are on the chart.

ALD really tightening up on MA20

CIM – had a good day. I like the volume and trendline resistance test.

CTRP – nice accumalation today and sitting on MA200. I might find an interest as close to MA200 as possible

NEXM – nice MA20 bounce today. I would like to have jumped in lower, but what a great move.  May have more.

ACAS – Needs volume, but it still has my interest.  Watching above $3.

NOVL – It just feels like a move soon. consolidating down near MA50. Definitely worth a watch.

MPEL – starting to form a symmetrical triangle with great accumulation.

SPF - watching $1.8 resistance line in hopes for a breakout.

BC – looking for $4.5 breakout.

New Watch List stocks this weekend.

Tags: ACAS, AES, ALD, BC, CIM, CT, CTRP, FIG, GLD, ICO, MPEL, NEXM, NOVL, PCX, PMI, SPF

Massive List of New Watch List Stocks

I’m finally over the flu – man that was rough.  Life is back to normal now, so let’s talk stocks.  I was hoping to get involved today, but was just too busy at work…. again.

Quick look at the Watch List:

PMI – I’m getting quite annoyed with PMI – will it ever breakout through MA50 so I can jump on the move?

ICO – I’m not happy here – I was hoping for a move through $2, but it just hasn’t happened.  I’ll watch – but from a distance.

CENX – behaving well and will get excited if it moves through $4.

BBI – tired of watching it.  Moving on.

PLD – sitting on MA50. Bounce time?  Like a few others, I’m losing interest unless we get the bounce tomorrow.

IO – KABOOOOOOM! Play of the week, so far.  Absolutely wonderful day trade play on the move through $2.

BA – nice volume today, but I’m really getting tired of the a lot of stocks on the watch list.

CHTRQ showed lots of profit taking today.  Glad I made my profits here already. Removing from the list.

PCX – Watching at $5.

FIG – I originally added it to the watch list when a nice pennant was forming.  Now it is back on my list because of the horizontal support bounce today at $2.25

ARM looking likely to do  something interesting any day now.. besides the 11% move today.

ALD is sitting on MA50 and MA20.  Fall through here could be ugly.

(more…)

Tags: ACAS, ALD, ARM, ASIA, BA, BBI, BC, CENX, CHTRQ, CIM, CTIC, CTRP, ENTG, ESLR, FIG, HERO, ICO, IO, LJPC, MPEL, NEXM, NOVL, PCX, PLD, PMI, SPF, SPWRA, VG

Tuesday Night Watch List Update

Hello, I took the day off to catch up on some rather large projects at work.. and crap – I wish I didn’t.  Oh, well.

I’ll be adding new stocks to my Watch List Wednesday night.

Quick Watch List Update:

PMI - wow, what a day.  Interesting.  Looks like there was head-fake breakout over MA50.  Still looks interesting at these resistance levels.

ICO – beautiful bounce off MA20 today.  Congrats if you got it.  Since I didn’t play, I’ll continue to watch horizontal resistance at $2.

CENX is very interesting – I’ve created two charts.. both look bullish, in my opinion

• chart 1 – inverse head and shoulder – me like
• chart 2 – trading in channel. I might go long tomorrow with a small position and watch behavior.  Hope is that it approaches top of channel then breaks out kaboom style

IO – moved strong against $2 resistance. Pop soon?

AES – still very interested in $7 resistance.

PCX – bounced off horizontal support today and and MA50. $5 still resistance.

CNO – trying to find an entry now that I missed today’s horizontal support bounce.  Hmm.

GNCMA – gotta watch this ascending triangle.

ALD – nice bounce off horizontal support. Nice tight bollinger band. We could see a breakout up (or down) soon.

Tags: AES, ALD, CENX, CNO, GNCMA, ICO, IO, PCX, PMI