PIN ACTION

Zortrades

Last week one of stocktwits.com finest technical analysts @ragincajun highlighted two monster winners $CENX and $GSI, two basic material companies.  I also noticed that $AA, another basic material name had a huge week, up 13%.  That got me looking for some pin action in the basic material sector.  By pin action I mean other stocks within the same sector, and perhaps with similar chart patterns that have not yet made a move.  Metalico $MEA and Titanium Metals $TIE are two basic material stocks, that did not have monstrous moves like $AA, $GSI, and $CENX, but they do have similar chart patterns, and if we do get some pin action these are the 2 stocks I want to focus on $TIE, $MEA.  So without further ado I will first post the charts of $AA, $CENX, and $GSI so you can see the move and the chart pattern and then I will post the charts of the potentials $MEA and $TIE.

Here are the two I will be focusing on this week:

Remember, place your stops, know what you are trading, know your risks, and never ever follow blindly.

Zortrades

ZorTrades is a financial advisor living in New York. He has been called the Zorro of stocks by those who know and adore him. He uses a pseudonym to protect the innocent.


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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