Trade Lessons To Find Breakdowns & Breakouts

BreitBurn Energy Partners L.P. (BBEP) is an independent oil and gas partnership focused on the acquisition, exploitation and development of oil and gas properties in the United States. The Company’s assets consist primarily of producing and non-producing crude oil and natural gas reserves located in the Antrim Shale in Michigan, the Los Angeles Basin in California, the Wind River and Big Horn Basins in central Wyoming, the Sunniland Trend in Florida, the New Albany Shale in Indiana and Kentucky, and the Permian Basin in West Texas.

I went long BBEP @6.02 once the $6.00 resistance was broken. Missed the top price, but made good 4.50% return.

Trade Lesson: Buy breakouts.


Walter Industries, Inc. (WLT) through its operating segments offers a line of products and services, including coal and natural gas, metallurgical coke, mortgage financing and home construction.

I went long WLT @23.02 once the $23.00 resistance was broken. Missed the top price, but made good 3.95% return.
Trade Lesson: Buy breakouts. wlt

Ashland Inc.(ASH) is a global specialty chemicals company, operating through five commercial units. Ashland Aqualon Functional Ingredients provides specialty additives and functional ingredients, largely derived from renewable and natural raw materials, that manage the physical properties of aqueous and nonaqueous systems. Ashland Hercules Water Technologies provides process, functional and water management chemistries for the pulp and paper, industrial and institutional, mining, municipal and marine industries. Ashland Performance Materials provides unsaturated polyester resins, vinyl ester resins, gelcoats, pressure-sensitive and structural adhesives, and metal casting consumables and design services for the construction, transportation, packaging and converting, and marine markets.

I went short ASH @15.99 once the $16.00 support was broken. Stopped out @16.31 with loss of -2.00%

Trade Lesson: Short breakdowns. However quickly stop loss out once previous high is broken. ash

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