Trade Setups for April 13, 2010
Good morning to you. We got a little bit of a negative bias heading towards the open due to there being a little bit of disappointment in the earnings that Alcoa (AA) posted.
It should be rather quiet this morning, as their is a lack of any significant economic reports; what you have is the ICSC Goldman Store Sales coming out at 7:45am ET, followed by International Trade and the Import and Export Price reports at 8:30am. Finally you have the Redbook coming out at 8:55am.
Still long UUP, but barely, as the dollar continues its slide downward.
Here are Today's Trading Ideas
Potential Swing Trade (Long): Spectranetics (SPNC) - A beautful chart, with the stock breaking out to new highs and has a lot more room to move still, even higher. Right now this stock sits above a previous resistance level, which provides an excellent entry point. Place your stop at 6.57.
Potential Swing Trade (Short): Symmetricom (SYMM) - A classic head and shoulders pattern, with the neckline of the pattern forming a lower-low. Very bearish setup here - place your stop at 6.41.
The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
