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If one wants to initiate a position in this Indian mining behemoth, now is the time. SLT has pulled back a bit after last weeks incredible run up and looks poised to travel along its 10 day MA for now. I'm going to be adding some for my position.
posted by Nick M. @ 9:49 AM
Hello and welcome to my blog. My name is Nick and I am a recent graduate of a top research university. I currently hold a BA degree in Psychology. My main interests are industrial/organizational psychology, HR management and of course, securities and the financial markets. I became interested in trading and investing in stocks a few years ago by pure chance and curiosity. After learning some of the basics in 2003, I began to trade in full force in 2004. Although I've been trading for only a few years, I have learned much about stocks, and analyzing charts in this relatively short time span. My experience and chart reading skills are my edge in successfully navigating the stock market. My strategy and discipline is a blend of trader and stock picker. My style of trading has helped me find some of the current markets top winners in their infancy. In addition to my own personal trading and investing, I also manage assets and portfolios for close friends and family. My goals are to continue to improve and refine my trading/investing strategies in order to further enhance my performance in the market. Eventually, I would like to establish my own investment/asset management firm.
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2 Comments:
I have been tracking the stock for a while as well. I'm unsure if now is a good time to buy, though. The rate of change is still rather high. I'm wondering if waiting until the price starts moving back up is a better idea... I think I'll buy a small amount now and then add more if/when it starts trading up.
Right now, SLT seems to have a decent trend above its 10 day MA. As long as it trends along this line, it is in good shape. Still, it did get a little ahead of itself last week. Unfortunatly, thats what happens when institutions buy in large quantities. In my opinion, this stock makes a very nice longer term trade or investment for anyone patient enough to hold it. I believe that it is a good buy at this level...of course, just my opinion. Good luck.
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