Out of Sync
12.02 My trade of the day in MIN is down 27 cents or 2.4% so far. Not so good. I've covered most of the loss thanks to a smaller trade I took in another lithium stock, SYR, but it would be nice to make a few bucks....bills to pay etc.
The Syrah resources chart is below and has me asking myself why I didn't simply focus on this in larger size. Conservatism, I guess, taking the "safer" larger cap option.
Otherwise, as a partial hedge for the MIN, which I'd like to give some more time, I've shorted FMG. Fortescue has had a nice bounce and looks a little tired in the short term. I sold some at 529 as it broke below yesterday's low.
12.30 pm The market is recovering and I've closed out the precautionary short in FMG at 527. MIN is coming off the canvas, back to 1104 though still down 19 cents on the day.
3.20 pm I'm inclined to hold MIN for another day. It hasn't recovered, in fact, it's down at 1090 but is well above yesterday's intraday low.
There are a few stocks shaping up bullishly but I'm trying to choose between A2M, LNK and NXT.
A2M has been correcting after a surge about a month ago but hasn't quite given a signal. LNK looks as if it might do so on the close. The company made a major acquisition in the UK and raised capital. The market liked it and the stock reopened very strongly. Second thoughts have resulted in the stock easing back, close to the breakout. Today it looks as if it has found support.
4.19 pm I did take the long in LNK as it closed at the high of 776 which is above yesterday's high. It was smaller size as I've held MIN. A couple of shorts provide balance hopefully.
The Syrah resources chart is below and has me asking myself why I didn't simply focus on this in larger size. Conservatism, I guess, taking the "safer" larger cap option.
Otherwise, as a partial hedge for the MIN, which I'd like to give some more time, I've shorted FMG. Fortescue has had a nice bounce and looks a little tired in the short term. I sold some at 529 as it broke below yesterday's low.
12.30 pm The market is recovering and I've closed out the precautionary short in FMG at 527. MIN is coming off the canvas, back to 1104 though still down 19 cents on the day.
3.20 pm I'm inclined to hold MIN for another day. It hasn't recovered, in fact, it's down at 1090 but is well above yesterday's intraday low.
There are a few stocks shaping up bullishly but I'm trying to choose between A2M, LNK and NXT.
A2M has been correcting after a surge about a month ago but hasn't quite given a signal. LNK looks as if it might do so on the close. The company made a major acquisition in the UK and raised capital. The market liked it and the stock reopened very strongly. Second thoughts have resulted in the stock easing back, close to the breakout. Today it looks as if it has found support.
4.19 pm I did take the long in LNK as it closed at the high of 776 which is above yesterday's high. It was smaller size as I've held MIN. A couple of shorts provide balance hopefully.
Comments
Post a Comment