So far today I've made two new long trades on the day - the first one in Green Mountain Coffee Roasters (GMCR) at $31.74 and the second in GT Advanced Technologies (GTAT) at $6.73 - so far I'm getting the feeling of being duped on my timing on the entry in conjunction with the market.
But as is always the case with trading, things can change around very quickly and the key is to remain disciplined and follow the stops that I have in place.
But technically both stocks look great, its just that based on where I got in at.
If one isn't careful, it can completely change the look and feel of the trade and cloud one's judgement on how to manage it.
With that said, I'm going to keep the GTAT setup as my long setup of the day, because if it can re-break that 6.71 level, we could see it breakout like I originaly expected it to do.
Here's today's lazy trades.
LONG: GT Advanced Technologies
SHORT: O'Reilly Automotive (ORLY)
Ryan (@shareplanner) specializes in swing trading strategies and is the founder of SharePlanner which he created to help and teach others on how to trade stocks better using multiple approaches and time frames. Each day you can count on Ryan to provide his trading advice as well as transparency in every trade that he makes. Ryan Mallory resides in Central Florida with a wife of seven years as well as one lively son. More >>
Get Ryan's Top Six Trade Setups for Profitable Trading eBook for Free!