Swing Trade - Long WNG Entry: 85.50 Stop: 80.50 Target: 100.00

July 23rd 2007

Swing Trade - Long WNG Entry: 85.50 Stop: 80.50 Target: 100.00

Tonight’s trade comes courtesy of WNG:

If I had to pick a problem with this formation it would be the timing. We’re in the end stages of a bull market. I am hesitant to establish new long trades, so I’m treating this as a short term swing trade.

I like the fact that it is the first pause after a long consolidation for the stock. We’ll see what the stock can do over 85.50/86.00.

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