PLM took a beating
PLM has been crushed the last 3 days on heavy volume. Today the selling stop at a major resistance point and I think its time to buy. The volume in the last 4 days is over 7 million shares. Buy with a stop @ 2.35. Look for a move to 2.68 or more.
Rain: Is there a trade to be made?
With the substantial rainfall in the Southeast over the last month, I was wondering if there is a trade to be made?
Sold Polymet Mining
I sold PLM lastweek. I will look for a reentry point this week.
Take the LEAP with E-Trade Financial
I bought some $2.50 LEAPs on E-Trade Financial. They expire in Jan 2011. I believe the stock will be substantially higher at that point or they will be bought out before then. Additionally, as their home loan losses continue to decline the stock should increase.
BTW, LEAPs are long term options contracts that allows one to buy/sell calls/puts for a fraction of the amount it would take to buy 100 shares of stock.
PLM is on the move
PLM broke out today above $2.00. It looks like the approval for the EIS is coming soon. Check it out.
