Tuesday, November 21, 2006

Trade Ideas!

Let's take a look at Reliance Steel (RS). It's been a nice uptrend, support from strength in the metals sector, PD Acquisition initiating strong attraction to these stocks, near-term resistance just overhead. If RS can break through this price point of $35.99 on strong/better than avg. volume, then it's definitely a buy, as the momentum will be carrying it higher. Possible near-term target $38.

Here is BankFinancial Corporation (BFIN). It's RSI is declining, printing lower low's, broke it's 50DMA, lower high's on the MACD. If it breaks through $17.49 on decent volume, throw in a short, as the momentum will be in a downward spiral, possible near-term target $17.20. If the $17.50 level holds, do not short this stock.

Disclaimer: I am not a CFA, and take no responsibility with what you do on account of this information.


Anonymous said...

whatever happened to those goog call options you bought back in october? I found your blog today and read all the previous posts and also noticed goog went over $500. Also, from studying your trades and style, what amount of capital do you have and what are your commissions per trade? Thanks, Dave

Cal said...

Google, Sept. $450 Calls
Purchase Price: $13.50
Sell Price: $30.00
Contracts: 7
Profit: $11,485.52
% Gain: 122%
Duration: 28 Days