Here’s Another Way To Trade Slim Jims
When a stock is
ignoring the market, it’s something to pay special attention to,
especially when the action is “carrying over” in a strong pattern from the day
before.
10:14:25
Intraday
Setup Alert
Baxter International (BAX)
is challenging the lows of an extended intraday Slim
Jim pattern. The stock is off .41 at 21.19, and holds a 3
Month RS of 8.
Our friend Baxter was acting in character this
morning as he paid a visit to his buddy Mr. Slim. They had an ongoing
relationship from yesterday, that when confirmed by the stock’s recent woes was
telling us that Baxter might still be having some personal problems. The stock’s
inability to rally this morning, coupled with this classic extended pattern was
reason enough to consider “dropping” in on Baxter as he left the
company of our more dear, longtime friend, Mr. Slim Jim.