There is something to be said about the virtue of patience and preparedness, in fact, in my sig I have my mantra displayed for all to see:

"Success occurs when preparation meets opportunity."

Gambler2076 did he research, picked his entry and waited patiently for the catalyst (which for this lucky bastard came the next day).



+42% today to $4.75. Nice work

I posted in the IPI thread yesterday about a break out in progress, Ag names have been attracting plenty of buying interest, IPI included.

For the month of May the stock consolidated a run to the $26-$28 range, it was pushing up on the resistance and finally broke through today with some very nice volume:



Similar story with AGU:

Did you catch SRS today? Nice 13% run from my call yesterday

Hopefully more to come on that one, we need to see how this decline in the broader markets separates the bad from the worse... Now we get to see what sinks and what floats.

Almost every stock out there has been rising over the past 8wks as money flows indiscriminately into anything. Market declines like this are a magical gift if you know how to read them. The stocks that fall the hardest are...

I've been waiting to see some weakness in IYR which is the iShares Dow Jones US Real Estate ETF. Rather than play the short on that, I am looking for an entry into SRS, which is the ultra short real estate ETF.

IYR hit $35 resistance which I will now use as a stop loss on my SRS trade. SRS is now at $22.



Simple trade here, if IYR gets over $35, bail on the SRS trade, otherwise, stick with it.

Ive been waiting for the break out of the long consolidation pattern in CNX, a coal and gas play. News from China today has set commodities flying, CNX got lit up... mmm... pretty chart:



Watch for resistance as the 200dma and $40.