Nice bounce but doubt lingers about its legitimacy

lazy swing trade kangarooThe belief the market will get bought up and be back at its highs in short order isn’t as strong as it once was. We’ve seen a lot of heavy selling in recent days, and the economic news hasn’t been too hot either. 

I am bias towards DISH Networks (DISH) simply because I bought in at $38.10 on the breakout of the ascending triangle. However, I cannot blame you if you’d rather choose the Eagle Materials (EXP) and the most excellent head and shoulders that has formed of late. I didn’t put in a stop-loss on it yet, because I would l rather see what hte chart looks like, if/when it breaks $62.20, because at that point there may be a better stop-loss worth putting on. 

Here’s the lazy trade setups.

LONG: DISH Networks (DISH)

Dish Network DISH swing trade long part II

SHORT: Eagle Materials (EXP)

Eagle Materials EXP swing-trade short

You Might Like

  • The rise of the retail trader in the stock market.

    The Retail Trading Revolution: How Small Investors Are Reshaping the Stock Market

  • fading the gap

    Fading the Gap: How Large Overnight Moves in SPY and QQQ Play Out During the Trading Day

  • how to trade a bear flag

    How to Trade a Bear Flag