same old usual suspects Been gone for about 3-4 weeks trading other positions and sold AAA at 56 cents a while back (non-core position). Looked bad when it went to the 60's but the charts kept saying once BMO would stop buying, it would have come down to mid 50's level. Looks like it wants to go lower though and for the life of me, I cannt understand why.
But thats when I take a step back and let things unfold. Today was supposed to be a great day for Potash stocks seeing that POT got a nice boost from some article and WPX had some nice news....AAA, cannot seem to catch a break.
My point is this...AAA has become a traders stock. Like me. Buy AAA in mid to low 50's and sell high 50's, low 60's. I have done this many times and so far its worked. I more than doubled my original position and have fun trading other stocks while waiting for AAA to come back down.
Stocks I recently traded were EGHT, CALL, PATH and AVO (toronto). It can get boring watching AAA when it gets into a basing position and I still am amazed at the posters like stag etc still getting a kick out of articles that have nothing to do with the price of eggs in japan. LOL.
I am currently looking for a re-entry point in the low 50's or lower if the markets start tanking. Good luck to all...most are trading this stock, thats why I decided to post this.
Frank