SINA Trading Idea

October 10th 2007

Ok. I’m back on the bull market bandwagon. My WYNN trade was an aberration. Of course if it works I’ll take full credit and if it blows up, well, that’s why you don’t short in a bull market. Let’s take a look at SINA

Nice Ascending Triangle. Volume declined as price consolidated. That’s all text book. One thing I don’t is the stock is technically over its buy point. I still like the stock over 51.25, but if I’m getting in it will be on an intraday setup. I’ll detail how it works out. Howard guessed correctly. I will be one of the momo traders climbing aboard over 50.

If you like this post, then consider subscribing to my full feed RSS feed. You can also Subscribe to A Trade A Day by Email and have new posts sent directly to your inbox.