Swing Trade - Long CBD Entry: 40.60 Stop: 38.00 Target: 46.00

July 11th 2007

Swing Trade - Long CBD Entry: 40.60 Stop: 38.00 Target: 46.00

I haven’t put a chart up, but if you look at the DOW it would appear that the bull market is on hold, at least temporarily. You want to approach any swing trade with caution untill the market picks a direction. Because we’re technically still in an uptrend, I’ll be looking for longs.

Here’s a nice ascending triangle. Look for a breakout on the third test of the 40.60 area. Heavy volume will be important on the breakout.

My Lean Hogs trade is technically invalid because price broke my stop level. However, I like the pattern so much, I’m going to let the break slide.

The Euro trade has setup nicely. Currently it looks like the price is taking a break.

See you tomorrow!

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