One new trade to report today and that is in Gafisa (GFA) - a stock that I'm pretty sure I've never traded in before, but is coiling nicely near the highs of its current price action.
I didn't wait for the breakout on this trade before entering, primarily because the risk/reward was so favorable at the current price, and there was significant support for the stock above the 20-day moving average.
As a result I added GFA to the portfolio as a swing-trade at $4.48.
Today's short setup comes from ISIS Pharmaceuticals (ISIS) which may seem surprising because of the incredible uptrend it has been on of late, but what you have is a perfect double-top pattern, followed by its confirmation and subsequent bear-flag. Once it can break the uptrend it is on, it should drop hard and fast.
Here's today's Lazy Trades.
LONG: Gafisa (GFA)
SHORT: ISIS Pharmaceuticals (ISIS)
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 >>
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