Tuesday, June 23, 2009

MGM

I still like the oil short.

UNG, I would want to be a buyer up until about $13.30

MGM: Gave it another try today at $5.60.

I think MGM has the potential to double or even triple with some good news over the coming months.

4 comments:

  1. NergoJune 23, 2009 at 8:54 PM

    MGM ... RSI needs to be lower? How about NP for a short?

    ReplyDelete
  2. TenYearJune 23, 2009 at 10:12 PM

    Hi Nergo;

    MGM is bollinger squeeze play...plus I like the candidate for a long term holding...sorta a trade but have been accumulating for some time for a large account.
    NP: I rarely short individual stocks...and at a quick glance I'll probably stay out of this one too. Not sure about the paper sector..NP looks like a long term inverse H&S setup..decent balance sheet...FWIW

    ReplyDelete
  3. NergoJune 24, 2009 at 8:53 PM

    If you held MGM then CONGRATULATIONS!!! Great pick, TenYear!! +14% on Wednesday

    ReplyDelete

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