MSTR BLOG and Commodities

A sweet move off the 50dma places MSTR – Microstrategy Inc. back on this trader’s radar.

A lower pivot on the monthly chart makes that buy signal somewhat aggressive. A train track uptrend of the 20 and 50 moving averages is positive.

I should have flagged BLOG – BladeLogic, Inc. earlier out of that triangle. The benefit of having an alarm placed at a previous closing high paid off today. A wise trader once told me to watch IPOs 4-6 months after their offering. The moves can be fast and powerful.

I liked the action in gold and oil stocks today. I’ve had some decent gappers this week and decided to hold a few commodities overnight. FCX, MDG, AEMLW, COG, and SU were held over.