Momentum Play, ANR at $74.10
Update 10:43 AM EST: ANR $74.10 buy point triggered. Placing my stop at $72.75. Look for a close above $74 and near session highs to affirm strength.
Real quick here before I head to bed I have a momentum play you may find of interest, Alpha Natural Resources (ANR). The stock is in my current favorite group, Alternative Energy which as you readers know has treated me well (LDK stock anyone?).
Place your stop limit buy order at $74.10 and if it hits look for a quick move to $78 – $80. With my trading rules a stop no greater then 2% will work. This play is good for the week, and if it doesn’t hit move onto the next one 
.
For those who track me on Covestor you know I’ve already taken a position in the stock today. I have an order to add to my position with the break of $74. My current stop is $71.85.
UPDATE 9:39 AM EST: I just got knocked out of ANR at $72.29, premature buying can bite ya sometimes. Should have waited for the true break @ $74. Total loss 1.19%.
Followed your advice, I am now up over $3.
Thanks
Blain, love the call.
Any chance we see a return of Nightly Stock Picks?
Ya Rick!! I will post another chart tonight to update you on how to play moving forward.
Blain
Yes, I’ve been swamped lately with work so I haven’t had time to make the posts but I will try and get back into the groove this week now that you mention it.
Blain,
I know you said you’re going to do a post tonight on how to continue this play, but any advice before the close?
Update post here,
http://www.stocktradingtogo.com/2008/05/28/anr-for-the-win-7-return-in-one-day/