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Two New Long Positions I Added Today

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June 15, 2012 – Comments (0) | RELATED TICKERS: WNR , VCI

Two Trades I went long in today:

LONG: Western Refining (WNR) - Notice the inverse head and shoulders that has formed over a period of months, as well as the range bound ceiling it has been impacted by over the same time period as well. Now we are finally getting a "breakout" to it. Stops and entry noted on the chart. Target is opened ended.  Long from $20.51.

Here's the WNR Chart Markup

LONG: Valassis Communications (VCI) - Another solid long setup, making a play on a bounce off of support rather than a breakout like WNR. I got long at $19.41 and look for the multi-month support level to hold for me. I'm still holding PPL and PCYC (the latter of which is doing fairly well).

Here's the VCI Chart Markup

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