February 13th 2007
Swing Trade - Long AER Entry: 27.35 Stop: 25.26 Target: 31+
I wanted to get this in last night, but my internet connection kept crapping out on me:
With the market being undecided I've got setups on both sides. So far i have XMSR that's in the money, and BHS and CHRW that both failed to breakout. Well, I found another that I think is worthy of a second look.
AER is forming an ascending triangle. If I had to pick a fault, I've noticed that volume is not spiking when the price reverses and heads back up. There's a fair amount(500k to 700k) of distribution on down days relative to the volume (150K to 250k) on the up days. My thinking is that as long as the breakout is on strong volume (1mil+) with an upward bias in the market, AER could be a winner.
AER is forming an ascending triangle. If I had to pick a fault, I've noticed that volume is not spiking when the price reverses and heads back up. There's a fair amount(500k to 700k) of distribution on down days relative to the volume (150K to 250k) on the up days. My thinking is that as long as the breakout is on strong volume (1mil+) with an upward bias in the market, AER could be a winner.
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