Thursday, April 07, 2011

Two for Two

We put up a post this weekend of two G ideas $GS buy on trend-line (160) and $GDXJ buy on trend-line (39.6) and already  gave an update when one of them triggered.
Now here’s the second update.   Yesterday we got our 160 trend-line break, first target of 162 (50SMA) and today second target of 164 (100SMA 164.3).  We’re out 3/4 of the name with stop now raised over 162.   As more targets fall, stops are raised.
If you got into the two thanks to our posts please take some off and get your stop over entry — targets have been achieved.    If you can though still hold partials on both since the charts look great.  If you got in as per our recommendation you will be deeply in the green and have the cushion to hold through any chop.
Here are the charts:

GDXJ was more straight-forward,  trend-line break was very clear for a very good run.  GS became more complicated when it didn’t trigger for a few days, thus moving trend-line down.   We’re happy both worked and hope some of you got involved.   Note something we tell our readers — the best trades, at least for us,  come from stocks/levels you have watched for a while.   We tweeted about the “change of character” on GS on March 29 as it bounced on the 200 SMA and it was front and center of our screens from that time.  We posted the GDXJ trend-line already on March 27 and were watching for the break already from that time.   Our style is to watch a few, really get to know their behavior, and then have the conviction to hit them hard with decent size.