Great day for MCX

Posted by downtowntrader | 2/03/2006 06:01:00 PM | 2 comments »

MCX finally closed over 15 and should debut pretty high on the IBD100. I've been posting on them quite a bit lately and the past 2 days have shown a remarkable increase in volume. Not only did they close over 15, they almost challenged their 52 week high. If they make it high on the list, 16's should be eclipsed rather quickly. Here are my updated charts.

Daily looks great and MCX clearly broke a nice base on strong volume.

Weekly looks nice with increased volume in the second base.
Congrats to those who played MCX with me and good luck in the coming week.

DT

2 comments

  1. Muaad // 7:34 PM  

    Great Blog!

    Looking through your various annotated charts I noticed that we have a very similar trading style. In fact, I traded SUF and SLW as you did, both for great profits.

    If I may add to your watchlist the following for strong moves today:

    MSPD: excellent breakout of prior resistance for a new 52wk high, and strong volume for the day. This stock has been trending nicely since the break of 2.50. I am in at 3.46.

    CFW: Beautiful break of $10.00 today and closed at its high of $10.30, the main warning sign I see is the fact that volume decreased vs. yesterday even though we have a new 52-wk high.

    and lastly,

    BBC: Hit new highs just this past Tuesday at about $22.00, and now has been taking a strong dive for the past four days to close at $15.00. $15.00 is a strong support area, and the EMA50 is holding. This could be a strong swing play for a modest profit.

    Check those charts out and let me know what you think.

    Peace,
    Muaad

  2. downtowntrader // 11:44 PM  

    Muuad,
    Congrats on SUF and SLW. I don't have time tonight to look at them more thoroughly tonight but MSPD and CFW look pretty nice. I would be worried about the increased volume on BBC's pullback. Thanks for the compliment. Good Luck,

    DT