Big day for the market today – breaking above the 1648 level was key. Now they just need to hold it until the close.
If 1648 and more so, the 20-day moving average, breaks then this market will be in the same condition as it was for the past month.
With that said, I’ve added more exposure to the long side today with two new picks, while closing out Kohl’s (KSS) at a small profit (+0.6%).
Today’s lazy trades are worth consideration depending on your bias in this market.. No chance I’ll take the short position as the market doesn’t call for it but I’m sure there are some out there who are willing to do so.
With the long position Cree Inc. (CREE), it is unfortunate that we missed the initial breakout, but it can be just as great of an opportunity if we can get a pullback to $64 or so.
So wait for it….
Here’s today’s lazy swing trades…
Long: Cree Inc. (CREE)
Short: SolarCity (SCTY)
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