Today's market popped early on and we have been in a holding pattern ever since. I'm leaning long and have already added the long position as shown below in Dish Network (DISH) after it popped out of the bull flag pattern early on this morning. I would not be surprised to see us move even higher into the close, once the afternoon trading session gets underway.
I really like the swing-trade short as well, and if we are to show more weakness in the close and it is close to my ideal entry price for Freescale Semiconductors (FSL), I may in fact take it to hedge some of my existing long positions.
Long: Dish Network (DISH)
Short: Freescale Semiconductor (FSL)
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 >>
Get Ryan's Top Six Trade Setups for Profitable Trading eBook for Free!