backfire

Okay, so my adding on to my MTOX position didn't work well today as MTOX corrected 10% after 1pm. Not sure what's up with that. Still, IBD says this stock should be held the full 8 weeks. However, IBD also says that MTOX brokeout from the $14 range, which would mean my buy was already extended and possibly I bought in the middle of that 8 week runup?

Tomorrow I am going to try to buy TU. It has formed a perfect 6mo cup and handle formation and has good fundamentals.

MTOX

I bought some more MTOX today.  I have a position that I started on 4/17 at $19.60  I decided that I would try to pyramid onto it, as it looks like the stock is basing after a breakout early last week.  This is currently my biggest winner.  I am going to hold it a full 8 weeks until mid-June and see where it is from there. 

Powered by ScribeFire.

way of the turtle

I just got this book for my birthday. It's by Curtis Faith, one of the
original turtle traders. I've heard good things about it, so I hope it
was worth it. I also got New Market Wizards by Schwager and Confessions
of a Street Addict by Cramer. Street Addict I read through in about 3
days. Interesting story, and some lessons in it, but it's more
entertaining than informative. Never read the original, but I'm liking
some of the Wizards stories.