Morning all. Almost there... "another year over and a new one just begun" stuff.
I wanted to touch base on a subject raised yesterday and raised previously. Swing trading vs. holding. This is a day trading thread. The idea is to scalp profits and whilst I agree that some shares continue to run, this isn't always the case. (subject to news). I was once taught by a prominent trader on HC that if you are a day trader, trade the day. Whilst you may minimise long term gains, you also minimise the risk should the share fall. There is also the option of buying the share back cheaper or focusing on a new margin.
It's always disheartening to see a share run knowing you have sold for a small profit, but I can cite numerous examples of where a share has fallen back. Similarly I can cite examples of shares that have continued to run (PDN, SFR, TOX, GXY, BAU). Is there a right or wrong answer? Probably not. All I know is that as a day trader I need to remain focused on what is, not what could be.
Today: VIL > A lunge at 4.0 looks imminent but profits may be taken close to this period unless news is centred. If 4.0 breaks, the run will be "impressive". (I hold VILO)
ROL/TRF > An interestng day. It could either head towards $2.50 in early trading or go sub $2. As a trade only I'm hoping for sub $2. TRF should see 80+ today. (I hold TRF)
ORD > I too am impressed with the chart. Every indication is that an entry around the current level is fine.
BCC > held ground really well and looking at the depth expecting a run soon. A break on 11 will take it quite easily to 13.
Lookng for any weakness in AZZ, NKP, RRS, BMN, ATI
