Monday, May 9, 2011

New Trade - WMB


2 Corinthians 9:8 "And God is able to make all grace abound to you, so that in all things at all times, having all that you need, you will abound in every good work."

Another new trade today - we are on fire!

This is the other trading strategy - a break of the previous high. I've been watching this stock waiting for 2 consecutive day's closing above the previous high. This happened today. I'm not overly concerned about the stochs and MACDs when making this type of trade because I count on it taking longer than a simple pullback trade like today's WMB and RES.

However, I do have the MACD lines looking very strong - so, I got that going for me - which is nice...
I bought an August 16 Call for $1.21. Looking to hit the next level of resistance above, which is approx 17.20ish or so - here's a longer time frame chart showing this:

My stop is just below the 15ish level. So, plenty of time for this one to work out.

I now have 4 live trades on and it's time to make some profit - glory to God. Now I wait.

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