February 18th 2007
Swing Trade - Long AER and TIVO: Update
Monday the US markets are closed. I'm taking this long weekend to do some extra research and work on this site. I wanted to give a quick update on two trades that are featured on this blog. AER was featured on 2/13 for the ascending triangle that it was carving out.
As I look at the chart from Friday, it appears the triangle formation is starting to break down. I am keeping my entry at 27.35, but AER will need to breakout on this leg up or I will turn my attention elsewhere.
The TIVO trade was featured on 2/13 and is showing some strength with the stock's breakout. Volume on Thursday was over twice the 30 day moving average. With any breakout, I want to see the stock really move. On Friday the stock took a break on lower volume. This is still positive, but for me to stay in the position, I'm going to need to see continued upward movement. Especially since the stock has no earnings, no real fundamental reason for the stock to keep going.
I am going to assume that a uptrending market will keep TIVO moving in the right direction. My method would dictate that the stock can consolidate sideways or setup a 123 formation. If the stock shows any weakness on Tuesday, I'm out. If TIVO stalls at its the 200 day SMA at 6.52, I'm taking off 50% of my position.
Monday I'm going to be busy looking for more longs. If the NASDAQ breaks through 2500, I want to have some trades to take advantage. If the markets go south, I should make some decent gains on the WYNN trade.
As I look at the chart from Friday, it appears the triangle formation is starting to break down. I am keeping my entry at 27.35, but AER will need to breakout on this leg up or I will turn my attention elsewhere.
The TIVO trade was featured on 2/13 and is showing some strength with the stock's breakout. Volume on Thursday was over twice the 30 day moving average. With any breakout, I want to see the stock really move. On Friday the stock took a break on lower volume. This is still positive, but for me to stay in the position, I'm going to need to see continued upward movement. Especially since the stock has no earnings, no real fundamental reason for the stock to keep going.
I am going to assume that a uptrending market will keep TIVO moving in the right direction. My method would dictate that the stock can consolidate sideways or setup a 123 formation. If the stock shows any weakness on Tuesday, I'm out. If TIVO stalls at its the 200 day SMA at 6.52, I'm taking off 50% of my position.
Monday I'm going to be busy looking for more longs. If the NASDAQ breaks through 2500, I want to have some trades to take advantage. If the markets go south, I should make some decent gains on the WYNN trade.
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