Tuesday, August 30, 2011

Tomorrow's Going To Be Important


BAC and CENX gave my portfolio a dent of -1.33%.

Interestingly, the two stocks I let go of yesterday - TGB and PQ - are still going strong, so I might buy them on a retrace sometime soon.

Tomorrow's going to be important because we have China Manufacturing PMI and ADP Non Farm Pay Day. On Thursday, we have Eurozone Final Manufacturing PMI and UK Manufacturing PMI as well as US ISM Manufacturing PMI.

So a tonne of manufacturing data over the next two days. I don't know what % of global manufacturing comprises of aluminium (aluminum to the Men of New York), but whatever it is, I've got a wild card in hand: CENX - Glencore style. Could it turn out to be an Ace? CENX ended the day right above its daily 50% Fib retracement level, so I think it's anyone's guess - but it appears the bears aren't wielding half the power they're used to having.


-1.33% SBA
-0.24% Roth IRA

+0.18% DJIA
+0.55% Nasdaq
+0.51% S&P


If I can continue to bank profits at my current speed, I'll be able to recover my paper losses on my SBA and Roth IRA in six months, which means that I should find a way to expedite my profit taking and increase daily profit margin.


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