Still Trading POT
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It has been a while since I posted. The past 2 weeks I went to 2 weddings. The last one had me traveling on a groom-side party bus from Houston, TX to Richmond, VA. During this trip I had my trusty Sprint Broadband card and laptop. I managed 2 round trades this past week for a gain of $1200 trading POT. Both were long positions. I felt I had called the short a little too soon. Luckily I got out before it fell.
Adjust your Game
I said that POT would fall back to the $165-170 level and that I’d go long under $165. My timing was a little off. I didn’t enter any short positions as I didn’t feel I had strong confirmation. I did make a couple of daytrades however. I’m making an adjustment now as I think we’ll be hovering around the $165-175 range for a few weeks. As such I’m going to be entering long positions on any dips close to the 50 day moving average of $170 and sell at $175. It is important to analyze, wait for confirmation, and make adjustments when necessary.
Tomorrow’s trade: Get long at $170′ish, exit at $175′ish for an intraday trade.
- Get back into POT - 06/30/08
- Exit your POT short positions - 06/25/08
- Trader Update: The Breakout Trifecta - 06/11/08
- POT - Time to short? - 04/11/08
- Potash - Trading the Good Stuff - 04/07/08
Hello,
great analysis. It really moves as you predict.
Best Regards
Vlada
I’m pretty excited about Intrepid Potash. I’m sure they’ll continue to do well and rise to the level of their competitors some day.
-Brad
http://www.virtela.com
You still there my friend? Looking forward to some new posts!