I had received some positive feedback recently about posting more short-term trade setups based off of the intraday time periods. These trades, successful or not, will typically only a few hours to a few days. Yesterday I had mentioned WLT as one of the coal stocks caught up in the relentless selling in the US coal sector. This should be a considered a very aggressive trade. WLT will trigger a long entry on the next pop above 2.30 with a current target of 2.60 (resistance is 2.67) and a suggested stop either below 2.08 or 2.12. Current price as I type is 2.23. Again, I am looking for the next move over 2.30 as the entry trigger for this trade (current time is 11:04am ET).
WLT also has the potential to morph into a Long-Term Trade (i.e.- investment or trend trade) should this short-term trade pan out as that might put in a potential reversal stick on the daily chart. More on the longer-term outlook later.