Thanks for the emails readers - for those who played ANR with me today you just walked away with roughly 7% on your money if you sell at the current price around $79. Not bad for a single days work huh?
The correct entry point on ANR was with the break of $74, my stop limit buy order was triggered at $74.10. Target price for this particular play was $78 - $80, risking a little less then 2% on the downside. Personally I was knocked out right at about $79 as I kept raising my stop loss limit sell order throughout today's session.
Here is a daily view of ANR, today's action highlighted in yellow:
And for those are active traders here is a intraday look at today:
This is the 2nd momentum trade playing off the Alternative Energy trend. If you didn't catch the LDK Solar (LDK) 14% run in three days, read up on it here.
Blain - thats fantastic. I watched it part of the day and was literally cheering. Even though I had no $$ in it. When I saw your post this morning the first thought that crossed my mind was this: How does he pick this one possibility out of a whole bunch of candidates. Care to share how you decided this one was ripe? Thx
great job on ANR!
I've been keeping an eye on some of the other resource stocks as well.
Unfortunately they (my picks: CNQ, CLR, & EOG) didn't break out as strong as this one did, but something to keep an eye on of they do.
The strength in commodoties today was unbelievable.
Just checking some after hours action they are all up.
Okay, after seeing this, I will have to come back alot more often to your website
Great trade there Blain, and nice profit taking ...
Blain: keep up the great work, man.
I was wondering, do you ever play options? Looking back, the Jun 80 calls doubled yesterday! Since it seems like your chart analysis is spot-on, would options be a good risk?
Great pick Blain! Looks like ANR is going to go parabolic.
I wonder when this stock takes a break? Huge volume today and a bad close has me real curious.
Sorry for the delayed email, I completely missed this comment for some reason. Thanks for being patient.
The way I caught ANR was because it was in a hot trend (coal), with phenomenal technicals just screaming buy (the stock has since peaked at $100 a share, and had low risk. For me it is all about finding great companies that are playing off a hot trend that have attractive technicals to give me a good buy point and low risk.
Hope that helps, and thanks for reading the blog!