Day Trading Post #39

Wow!!! Let's go PCX!!!! Finally after waiting and waiting and more waiting, everything setup perfectly and I am up over 4 points on PCX!!! I scaled out 1/2 my position yesterday to lock in profits of $2.46 per share (so $246 profit off of 100 shares), and left the other half in as a runner. Things look great and I would love to hold this thing long term. I might be a bit optimistic here, but I really do think I caught the bottom (or very close to it at least), and for a stock that has a 25% short interest, it has a lot of room to move up! Also, PCX used to be valued at around $95 before the market crashed back in October. Now I doubt we'll see PCX jump up that high any time soon, but again, there is a lot of room for it to continue this upward move! Chart is below:



Also, HW came against me today approximately 50 cents give or take. Then, it rebounded and started to pop up again, so I added to my position today, putting another 100 shares in at a price of $2.60. I now have 300 shares of HW at an average price of $2.72 cents. Things are looking good for HW, and I like the setup. I plan to add more to this position if we can close above the 20 EMA and hold that. I really do like how the stochastichs on the daily chart are at an oversold level and are starting to turn towards the upside. Things look good, and I will continue to watch this position closely.

Along with this, RACK and KFT are still looking good. I will be watching closely and plan to take profits around $25-27 level for KFT and $5-6.50 level for RACK. Personal account is now up just over 30%!!!

As for day trades, my method works well, and I have been profitable all week except for Monday. The hit I took on monday keeps me slightly down for the week but that can change with one trade. That's all for now!