It's shaping up to be a quiet Friday for me. One thing I'm noticing is the rabid bearishness in regional banks today due to the disappointing bank earnings. What's tough for this market today, is that for days now financials have really been the only bright spot in this market, and now it's joining tech and the rest of the sectors to the downside.
Today's lazy trades features E-Trade which is, no doubt feeling the effects of financial bearishness, as it is breaking a long-term trend-line.
The second comes from XLS which is showing signs of holding its current uptrend and a nice reward-to-risk setup.
Here's today's lazy trades.
LONG: Exelis (XLS)
SHORT: E-Trade Financial (ETFC)
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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