John Q Public, Before I answer, why don't you share something that might make me some $$$ tomorrow. I doubt that's possible. Come on smartass.....surprise me.....just give me 1 idea.
A bit late. I took a short in this today at $30.50. I'll cover 1/2 on a point or so push down from here with my stop set a few pennies above todays high. Still shortable on any bounce up to resistance.
You're going to have to come up with a better breakout setup that offers an acceptable risk/reward ratio before I answer. I don't know a SINGLE TRADER WHO MAKES CONSISTENt MONEY who would consider that a long. With the 200 MA almost on top of it......and declining....the smart money won't be there. Sure, it may pop over the 200 for a few days but it's very unlikely to stick. The SMART trade is as a short at the upper wedge line. Again, I'm thinking risk/reward.
Well you said something you could make money with tomorrow. I didn't know that you wanted to marry it. The shorter term charts show promise. Speaking of promise, I guess you are going to break yours. I'll bet you ware pants - baggy pants!
I've traded around this one for months. It's not the easiest out there. I'll take a small short on a rally up to trendline resistance....$85.00 - $86.00. Before it's over, I'll be surprised if it doesn't fade to the mid 50s.
Oh brother. As long as I'm trading against people like you, I know I'll always be in the game. Instead of focusing on my legs, I suggest focusing on your account. Someone out there is working RIGHT NOW.....trying to figure out a way to take it.