Following The Trend
Going with the trend and shorting weak stocks when they rally and buying
strong stocks on the pullback can prove to be a profitable approach to
daytrading. The key is to wait for follow through before entering, and
protecting yourself with a protective stop in the event you are wrong.
10:26:26
Intraday Setup
Alert
Express Scripts Inc (ESRX)
is staging a counter trend rally from its intraday low. ESRX is down 4.36 at
60.60.
This morning Express Scripts
(
ESRX |
Quote |
Chart |
News |
PowerRating) gives a good opportunity for a short
position as it breaks down from a triangle after rallying off the intraday low.
ESRX breaks down for almost a 7 point loss, on the heels of news
of the company getting a subpoena from the U.S Attorney’s office in conjunction
with a probe into one of its business relationships.
Take advantage of TradersWire
Interactive to get alerted to these combination news/technical
setups. They provide a quick-hitting method of timing your entry into a stock
intraday, and capturing a chunk of a trend’s move.
Until tomorrow,
Duke