ORE broke its support

Watch out for this stock. ORE has finally broke its support level. Similarly to what happened to other mining company, ORE has been hardly beaten by the executive order for mining industry released months ago. I still have some shares of this stock but I am willing to let go of it even if it is a loss for me. It has reached my stop loss price, a rule in trading that you SHOULD and MUST have. My stop loss price is usually 4 - 5% below the price of the stock I bought.

Trading is not always a gain. It can give you a smile (gain), a scratch on your head (break even) or a sad face (loss). Never think that it is always grab of winnings. Because if you have that mentallity, you'll see yourself losing more rather than gaining.

Short term up trend signal for LC

This past few months, LC has been in down trend. The new executive order for mining is the biggest contributor for this price movement. This brings out fear and hesitation for the investors to put up their money in mining industry.

Obviously it has been a long term down trend for LC but we can still catch a small up price movement for this stocks. As what you can see on the graph, LC already touched its support at 1.10 and formed a bullish harami candlestick. This shows a trend reversal signal for LC but since it is generally a down trend for this stock, I will be more cautious. LC is not for long term for the mean time. 1.18 price is a good exit price if you were able to buy at 1.10 - 1.11. Caveat!

Cautious for VMC

Yesterday I have seen the price of VMC broke its previous support level. I was so cautious for VMC since I have some shares in this stock. If the price fall to 1.10 level, it's time for me to say goodbye. But the price remain strong it even form a DOJI candlestick formation.

"The Doji is a powerful Candlestick formation, signifying indecision between bulls and bears. A Doji is quite often found at the bottom and top of trends and thus is considered as a sign of possible reversal of price direction, but the Doji can be viewed as a continuation pattern as well."

 RSI also shows a possitive outlook for this stock. Notice the pattern I showed in the image. Is it time for VMC to rise and shine? Let's see!

JFC is about to touch the ground

It seems that JFC is about to touch its support line soon. Today's trading will probably conclude my assessment. And it will be a good timing to buy this stock. I will hold it for a short period of time. Probably around 1 week is enough to reach my target price of 106.5.

MEG is correcting

Of all the stocks I had before, I can say that MEG is the one the had given me the most. With a projected fair value of 2.87, MEG is slowly inching its way up to its target. This was recommended by a mentor and became of MEG follower eversince. It doesn't have a big wave but its technical movement is quite predictable.

I just sold my shares for this stock when it has reached 2.47. It reached 2.51 level but with the gain I had, I am already satisfied. Also I have a strong feeling that it will have it's technical correction soon.

And it seems that I am correct! Now on it's 2nd day of down trend and I am simply waiting at 2.33 level to buy some shares again.

Caveat!

Reversal time for PHES

PHES has touched it's SUPPORT line as what you can see in the image.

Support is the price level wherein the demand is high and most likely prevent the price from further decline.

I'll put BUY status for this stock.

Buy Price: 0.64
Sell Price: 0.75
Potential Gain: 17.19%
Stop Loss Price: 0.61

Welcome to the world of xersmith29-trade

This is my first post on xersmith29-trade.

I created this blog to have an online diary about my trading activity. I want this blog to serve as a guide, not just for me but, hopefully, for other people as well.

I am not a full time trader neither a professional on this field. I am a Software Engineer by profession. But I have this burning desire to learn more about stocks... Learn more about when is the right time to buy and to sell... How to stop loss... How to read charts... etc.

Along the way, I will keep on posting about my "personal opinion" about the market, stocks that I buy and sell, chart reading and other trading related topics.

Enjoy and happy trading!