Lazy Trade Long & Short: GGC & PM
January 4, 2013 - 2:58pm
Swing-trade strategies in Philip Morris and Georgia Gulf Corp.
The market continues to swing higher to close out what has been a very impressive opening weak in the markets. I think with today's employment number, debt ceiling and possible downgrade talks that some renewed weakness in this market may be creeping up on us. Which is why it is so important to keep a running list of possible long and short setups REGARDLESS of the market conditions, because you never know when things will suddenly turn around or head back down.
Today's long and short lazy trades I have no positions in right now. Philip Morris (PM) looks promising as a short with a pop back into resistance to offer a low risk setup.
The Georgia Gulf Corp (GGC) setup has one of my favorite setups with a nice pop out of resistance followed by a pullback to a key support level.
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