Thursday, August 26, 2010

SXC breakout; NRGP breakdown

The alert I set for SXC a few weeks ago (here) was triggered this morning as SXC is breaking out to new all-time highs after making a solid base. Since I have the time today I will watch the intraday action and if it gets support at the rising VWAP then I will take a position intraday with a stop at 80.10.


Meanwhile, after a heavy selloff (here) I have been watching NRGP, expecting it to set up a new consolidation pattern. It has worked its way out of overbought conditions but I don't like its inability to hold above the support levels I've drawn on the chart. I will make a partial sell if it can't hold above 28.15 today. It is still in a long-term uptrend and above my looser trailing stop, so I will keep a core position.


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