CENX Stopped Out, Potential Inverse Head & Shoulders Pattern Forming

CENX daily Sept 25th The CENX (Century Aluminum Co.) Long Trade Idea exceeded the maximum suggest stop on of a move below 5.00 on Wednesday and as such, will be moved to the Completed Trades category. However, for those still in the trade or considering a position, I plan to keep the stock on my radar to monitor this potential Inverse Head & Shoulders (IHS) bottoming formation. Inverse Head & Shoulders patterns, just as with their counter-parts Head & Shoulders topping patterns, may have horizontal necklines as well as upwards & downwards sloping necklines. Although perfect symmetry is not [...]

2017-03-08T21:20:15+00:00Sep 25, 2015 1:48pm|Categories: Completed Trades - Long|Tags: |Comments Off on CENX Stopped Out, Potential Inverse Head & Shoulders Pattern Forming

Miscellaneous Comments

I will be leaving town today, returning Tuesday night with very limited access to the computer. Therefore, commentary will be light, if any, until I return. There weren't any major technical developments in the equity markets this week but I've cut & pasted a few email replies to questions & comments that might be of interest to others:   Q: Latest feelings on GDX? Am in around 13 level. You haven't done a gold update recently. Feelings on how Fed decision will impact gold? Also....need your take on a popularly traded stock....interesting chart as well as the fundies... PYPL (paypal). Looks [...]

2017-03-08T21:20:16+00:00Sep 13, 2015 9:33am|Categories: Equity Market Analysis, Gold & Commodities|Tags: , , , |Comments Off on Miscellaneous Comments

CENX Long Trade Setup

CENX (Century Aluminum Company) will trigger a long entry at 5.72. Suggested stops using a 3:1 R/R which provides a max. stop below 5.00. Regarding position sizing, there is at least one other aluminum stock that will likely be added as a Long Trade Idea soon. Therefore, for those interested in exposure to commodities or commodity producers, particularly aluminum producers, diversification among several stocks would help to mitigate risk. Note: the following charts were created shortly before the market opened today & as such, reflect Friday's closing values. While one could certainly take a starter long position on a break above [...]

2015-09-25T13:48:59+00:00Sep 8, 2015 9:46am|Categories: Completed Trades - Long|Tags: |Comments Off on CENX Long Trade Setup