Ahead Of The Fed
When summer is in full swing, and
there’s ‘yet’ another ‘numbuhh’ that has the eyes and ears of traders
everywhere…maybe it’s time you remembered not to swing such a big bat when
playing to an empty field.
12:08:34
Intraday
Setup Alert
United Online (UNTD)
is trading up .39 at 32 as it tries to resume its daily uptrend. Intraday,
the stock is finding resistance at this level, which has UNTD carving out an
ascending triangle.
Triggers for long entries might be considered above pattern and session highs of
32.
Personally, I had more alerts that moved in the
anticipated direction than not, but I wanted to point out what is typical of
light-volume summer trade. In general it’s this type of day that almost
guarantees that your edge is far from favorable, should you decide to hop ‘on
line’ ahead of the Fed.