Taking The Trade
This may not be ‘IT’…but it is an
Intermediate Term candidate which can be a great place to look for potential
position overnighters. The environment has been great for weekly breakout
candidates the past couple of months. Even stocks with strong growth prospects
usually need the market at their backs in order to perform up to expectations,
and it’s been without a doubt a solid period for initiating this kind of
position. What will tomorrow hold? I don’t know, but with money management in
place, we can continue to look for the quality setups one day, and one position
at a time, and then decide for ourselves what the proper course of action should
be.
Today Pixar Animation
(
PIXR |
Quote |
Chart |
News |
PowerRating)
triggered from TM’s
IT Report. I classified the stock under potential swing candidates, as most
of the technical and fundamental criteria look to be in place, but might not be
considered picture-perfect for some position traders. My intentions are to put
up stocks that might provide our subscribers with an opportunity that might
otherwise go unnoticed. Depending on your own interpretation of the stock and
the market in general, you can make an informed decision for yourself, as to
whether or not the trade should be taken, and how to properly manage it.
11:00:08
Swing
Trade Setup
Pixar (PIXR)
is close to triggering out of a ‘loose’ Cup & Handle pattern on the weekly. Triggers
for this IT
Report candidate are set at 62.34 with the stock currently up .70 at 62.19.
Who knows, maybe you get a ‘small catch’ out of
it, or maybe it becomes ‘a whale’ of position that you reel in, hook,
line, and sinker. Bottom line, when it comes right down to it, only price, time,
and money management provide us with the necessary ingredients to make a good
meal of our trading decisions on a consistent basis, and anything else is just a
bit too fishy to digest.