It is so easy to want to sit on the sidelines today and tomorrow and avoid the trading all together until a President is elected and all this hysteria has come and gone.
But hey, you all don't come to SharePlanner for me to sit here and do nothing, so I scoured the stock market universe and found two trades that I really like. The first trade is in James River Coal Company (JRCC) and I'm long there from $4.57. My stop-loss is at $4.37 which I'm hoping will hold through tomorrow without much problem, because my intention is to hold this through Wednesday.
This is a pure speculation coal-play that assumes Romney wins this election, which I strongly believe will go his way tomorrow night. So if you don't believe the same, I wouldn't trade JRCC.
The short setup isn't quite ripe for picking at this point. But Equinix (EQIX) is in a distributive triangle pattern puting in consecutive lower-lows since hitting its highs back in September. Once it gets into the $178's that is where I'm looking to take my short position.
Long: James River Coal Company (JRCC)
Short: Equinix (DQIX)
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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. More >>