Wednesday, August 17, 2011

After Buying Up A Storm Yesterday...


Today's trading session was relatively quiet, but my portfolio still experienced some more upwards momentum, though not as strong as before. STO continued to tread higher, forming a new 5-day high, yet unable to hold the $24.50 level - albeit $24.00 proved to be daily support today.

CENX appears to be ranging on the 5-day chart. It's difficult to ascertain what will happen now as price action could tilt either way with a horizontal formation like this. It's clear that we'll go vertical soon and my hope is that the action will get hot and heavy towards the upside.

Tomorrow: Philly Fed and existing US home sales. Next week: US GDP q/q amongst other things to steam up the trading floor...

+1.68% SBA
+0.63% Roth IRA
+0.04% DJIA
-0.47% Nasdaq
+0.09% S&P


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