Watch And Observe
Keep in mind that sometimes it takes time for setups to play out for swing
trades. Back on Thursday (September 20), we profiled VeriSign
(
VRSN |
Quote |
Chart |
News |
PowerRating) for
the third day as it continued to show promise to the short side as it was
encountering resistance at the 20-day moving average and its downward trendline:
10:54:25
VeriSign (VRSN)
is starting to bounce from the 20-day moving average and a trendline after
pulling back from its low. VRSN is currently down 1.97 at 40.93 and is
carrying a 3-month
relative strength ranking of 25 from TradingMarkets.com.
From here the stock dropped nearly 4 points before reversing
this morning, and may not be done.
The majority of traders, however, will most likely be happy with
a chunk of a 4-point move. When you see a stock profiled for more than one day
in the Insights From The War Room, often
we are on to something.
Until tomorrow,
Duke
P.S. I am really looking forward to meeting many of you in Las
Vegas. If you haven’t already done so, go on over to the registration
page and re-consider. There, Eddie Kwong and myself will be teaching several
techniques (never publicly revealed) on how to maximize the power of the TradersWire.