I’ve been sitting on the sidelines today, holding off on getting into any new trades. But if you have the itch to do so, I’ve put together two new trade setups to take advantage of, depending on which side of the fence you are on.
With FBHS you have a solid uptrend followed by a bull flag pattern that it is trying to break out of. What is also appealing is the bullish kicker from yesterday and today where you have a solid down day, and then a gap higher today above the previous day’s action.
With COG you have a triple top breakdown that could lead to additional downside in the day’s ahead, particularly if the market follows suit.
Today’s Lazy Trades:
LONG: Fortune Brands Home and Security (FBHS)
SHORT: Cabot Oil & Gas (COG)
Welcome to Swing Trading the Stock Market Podcast!
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Refusing to take a loss when the trade has turned, and the reason for getting into the trade in the first place is no longer valid, is one of the biggest problems traders face. In this video, Ryan Mallory discusses the pitfalls that comes with refusing to take the loss and instead opting to become a bagholder on one's trades.
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