Tuesday, March 23, 2010

Takes me back. Tue Mar 23

I've been out of the office for most of the afternoon and just scanning through the market I can see that Atlas Iron has bounced strongly with the market. I'm long some of these which I bought on the 10th of March as the stock broke strongly to the upside following good reviews of their strategic takeover bid for Aurox resources. The correction was sharp over the last week or so but today there's been the nice strong resumption of strength that you often see in a clearly trending stock. It reminds me of the last bull market where I used to hunt around for these sort of retracements.

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I'm hoping for a quick move to new highs and I'm targetting around 270.

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