Hey guys,
I'm new here, and this is my first post. I think I'll start a trading journal to share my thoughts, but since I am a beginner this looks like the right place to start.
I see myself as much more of an investor than a trader. I also just recently discovered Weinstein's book, and I was very impressed by his logic & disciplined system. However, I am unsure of my ability to read charts correctly and I would appreciate your insights.
I just sold 2 stocks that I realized were in stage 4 or late 3, so I'm looking for new investment options. Here are my candidates:
GALE - Looks like a stage 2 breakout a few weeks ago with impressive volume. Also, there is no major resistance nearby, and this is a strong sector. It also looks like this week we saw a pullback, so this might actually be the ideal time for an investor to enter this stock. I'd love to get some opinions here.
MRO - Looks like there was a possible stage 2 breakout a few weeks ago, with nice volume increase. Previous resistance around the 37.65 line, so if the price crosses above that, it might be a buy signal.
REXI - price moved above the 30 SMA, with a nice volume increase. Resistance at 9.71, so again, closing above that line might indicate a buy signal.
I'd love to hear your take on this, guys.
