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Thursday, January 24, 2013

Geo Energy - Speculative Play

The market is bullish but approaching overbought and possibly the development of a RSI bearish divergence. This is definitely not the best time to buy for longer term investment. This market is good for the gutsy who could profit from nimble trades. I have known of traders who effortlessly made $3,000 a day. Midas, Biosensor, Ezra, Ezion, Interra Res, Yoma...etc are in play the last 2~3 days.  One other stock which has consolidated for several days and may be in play soon is Geo Energy. This counter is 6th in the active list today. Look up for a possible spike from .605 to .650 ( stop loss at .57 ).  In order to profit from such a trade, a position size of 20 lots and above is ideal.

Ezra and Ezion update :
The red Dow Candle I have hoped to see yesterday has surfaced :