Market is showing a respectable bounce - in essence it is attempting to stop the minor bleeding over the past couple of days. Overall the pullback had little to no volume compared to the run up, and selling was in a very orderly fashion (no fear at all).
I'm looking to add one more trade to the portfolio outside of the one I took this morning in PNR, and right now IACI is at the top of the list.
As always because traders come in all sizes and strategies, I still provide a short setup in case I'm wrong in my bullish thesis for others to take if they so choose to do. This go around, it is ASML which is breaking down nicely off of a (rough) head and shoulders price pattern.
And by the way - the IACI trade setup came from a trader in the SharePlanner Pro Trading Platform - so I can't take credit for it - but I do LIKE IT!
Here's today's Lazy Trades:
LONG: Interactive Corp (IACI)
SHORT: ASML Holdings (ASML)
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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 >>