Monday, May 6, 2013

URRE

This has taken a while to move for us, but it's been a longer term - long position we've seen something in and like. If I was playing this short term, I'd be real tempted to take today's 10% gain or partial profits and wait for the next pullback to add them back. I will say though that beyond the short term intraday charts, the long term position or trending charts look great.

I'd definitely consider this a long candidate at a decent pullback so long as 3C confirms the pullback is near the end with accumulation.

A trailing stop is another option. The 50 m.a. on a 10-min chart is holding the recent trend better, but as far as locking in as much profit as you can, the 5 min 50 bar looks a bit better, of course it depends on how you want to play it, you could just put it away and forget about it and let it do its thing. For the Trend Channel, because of some of the volatility, I have to go out to 60 mins to hold the trend ad at that point the stop is $2.25 as of now, but will continue to rise. I usually prefer to use the stop on the Trend Channel on a closing basis, but again I think it depends on how you want to play it.

The one thing I will say is that URRE did not develop as fast as UNG, but we saw them at the same time, liked them both for largely the same reasons and I think URRE is now in play, the next pullback I'll be looking to get a bit more aggressive, keeping in mind the speculative nature of the stock.

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