First Things First
First pullbacks right out of the gate can often be early winners, particularly
when they ride the coat tails of the indices early momentum.
10:11:48
Intraday Setup Alert
Expedia (EXPE)
is pulling back from its intraday high after gapping up this morning. EXPE,
is up 1.38 at 52.45.
This action was taking place at the end of the indices rise
directly out of the ringing of the bell, so it is important to wait for follow
through and trail stops higher once the position becomes profitable, as it can
often do a turnaround very quickly.
Fortunately, that did not happen here, as the stock rallied out
of the pattern for a fast 1 1/2 points, then traded sideways. Remember, however,
that this is not always the case. Protect profits once you have them.
Until tomorrow,
P.S. – Join Larry Connors and Kevin Haggerty at 5:00 PM
ET for a live audio
workshop on the benefits of TradersWire Interactive. Simply log in to the
TradersWire Interactive chat room between 4:30 and 5:00 and click on the
provided link to access the live audio. Larry and Kevin will be taking you
through how the components came into being, why the tools are valuable and how
you can apply the technology to make an immediate impact in your own trading.