Here’s Why We Respect The Trend
Quite often one nice setup lends itself
to other potential trades in the direction of the trend. It’s important to
remember that a stock that is acting well can give multiple entries at different
levels throughout the trading day.
09:54:22
Intraday
Setup Alert
Citrix (CTXS)
has triggered long out of a Taglia
Gap on a positive earnings report. The stock is up 1.80 at 17.25.
11:19:52
Intraday Update
Since our initial Taglia
Gap alert at 9:54 Citrix Systems (CTXS)
has rallied further, producing gains of .50 on 1/4 of the position size, as
per the money management rules. The stock is now currently breaking
through intraday Slim
Jim resistance established on the pullback from session highs. CTXS is up
2.30 at 17.73.
12:38:34
Intraday
Update
Citrix Systems (CTXS)
continues to be a top performer in the Software Sector (SWH)
in today’s session. The stock has now established a Cup & Handle pattern
with breakouts
triggering above 18. CTXS is up 2.55 at 17.98.
When a stock is leading the sector, and
showing relative intraday strength, it might just “pay to stay." A
trend in motion can stay in motion throughout the day. Remember to look for
strong technical entries. Don’t worry about “what was" and focus
on reentering in the direction of “what is."