So yesterday, towards the end of my post, I mentioned what I would be watching for some income generation on this first day of the week. After a generally slow last couple of weeks (mainly due to my heavy load of tasks unrelated to this blog), I had to pull some trades today.

Lets see a few things, I said watching (PCX) in the coal sector. Today alone the stock was up 20+% not bad for those that listened. Personally, I got in with 500 shares at $8.54. This was a tad high I thought to myself initially, but as momentum continued with the good news on overall markets, the rise in the stock did continue. Another reason was upgrades from analysts which will boost the stock further. Watch for a profit taking on the stock soon. Will it go below $9 again, its likely that a $8 range might be tested eventually before going up again. But back in the $4 range as some shorts are hoping is really a long shot. I did get out of (PCX) today at $9.23 which was fine enough for me. The redemption of last weeks weak profit on this stock can finally be put behind me now.

Total profit on (PCX) = $345

Another stock that I said to watch (well sector for that matter) was the financials. Today was a great day as one of the stocks in the financials, (BAC) came out and said they would not likely need to raise more capital to fend off any government takeover. This news really lifted the stocks and I was lucky to be watching good old Bloomberg TV and got in on (BAC) at $9.11 for 400 shares. This was all I will willing to budget on this stock and I was lucky to get into BoA as it was a gamble between them and (C).

Citigroup did not say anything about needing to raise capital to ward off government control, BUT they are in a position where they do need to raise money. As all this news started to come off the wires, you can see the lift off on (BAC) share prices. I had a sell price set in for $10.11 for an even profit. This was easily met.

Total profit on (BAC) = $400

Total profit for Monday = $745. Feels good being back on track today.

Looking for Tuesday:

Economic Indicator:
7:45AM Weekly retail sales
10:00AM ISM Services for April.

Bonds: 1:00PM 5-year note auction.

For Tuesday I will be watching the energy stocks. As oil starts to break new highs for 2009, solar stocks like (SOL) and (SOLF) look cheap enough for a quick profit. If there is no movement, I will be watching (PCX), (LVS), and banking stocks.

Happy Investing!

Aman, MBA

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  3. Monday Drops