Our latest trade is in Teradata (TDC) – a tech company that provides enterprise data warehousing solutions, provided me with a nice setup to the long-side so I took it. I bought in at 26.35 last Friday, and then again this morning at the open at 25.85. So far so good, I am in positive territory, and will add more to the position given the chance. TDC has a lot a positives going for it that provides it with a descent edge on the trade; 1) It’s in the tech industry and anyone that has been watching the market recently knows that the NASDAQ has been leading the way of late; 2) Solid Price Support along with a solid trend-line it has been following, including additional support at the 50-day moving average; 3) Takeover talk has rumors of a potential SAP bid. Don’t ask me for a time-frame because I have no clue, but such talk can garner speculation by traders hoping to hit a home-run, which can provide even more support. I have a pretty tight stop on this one, so I’m not going to let it run too wild before pulling the plug, which is currently at 24.86.
Here’s the chart on TDC…
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