February 13th 2007
Swing Trade - Long TIVO Entry: 6.05 Stop: 5.71 Target: 7.00
For such a bear I find myself featuring long trades. I think the only trade on this blog that has setup is the XMSR short.Like I said before, I always keep setups on both sides of the market. I have my market bias(down), but price and volume in the context of a methodology dictate my actions, not my feelings.
Which brings us to TIVO. TIVO has no earnings. They are losing money, but I have them on a watch list because of the cup and handle that the stock is carving out. Aside from the lack of earnings, my only reservation is the ominous looking 200 day simple moving average looming at 6.56. I put a target in at 7.00, but that could be wishful thinking.
If I trade TIVO, the stock would need to break out on heavy volume above 6.05 and I'm going to keep my stops tight. If I can squeeze .50 out of TIVO, I'll be happy. Of course if the market explodes upward and TIVO breaks out, I'll probably keep my stops loose.
If I trade TIVO, the stock would need to break out on heavy volume above 6.05 and I'm going to keep my stops tight. If I can squeeze .50 out of TIVO, I'll be happy. Of course if the market explodes upward and TIVO breaks out, I'll probably keep my stops loose.
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