Lazy Trade Long & Short: DTE & SKUL
January 17, 2013 - 3:53pm
Some ideal swing-trade setups to consider
The market is breaking out nicely today after consolidating for the past four days. It's not a major move but measured. I think there is still room for the market to rally more, as long as it doesn't get ahead of itself like it did earlier this month.
For DTE Energy (DTE) you have a stock that has been trading in an ascending trendgle for the past 2.5 months and price continues to fail at getting above major resistance. Once it does though, there should be some renewed buying interest in this stock.
On the short side, Skullcandy (SKUL) has been in a perpetual down-trend and every time it bear-flags it telegraphs its intentions to move lower yet again.
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