Lazy Trade Long & Short: YPF & PETM
January 28, 2013 - 4:14pm
YPF Sociedad Anonima (YPF) and Petsmart (PETM) are today's Lazy Trades
I'm not adding any longs to this portfolio, and am focusing strictly on the short side here. I'm not getting any sign from the market here today though that it is ready to move lower. If we can get a move into the close that takes us south of the day's lows, I'll probably add one additional short to the portfolio.
The trades below, YPF offers a great momentum play if can break out of the box and into new the $16's. But be careful though as it sets up for a possible head fake if this market doesn't pullback first before YPF triggers.
PETM is a short setup but you need to wait for this one as it is trading well below the break down level. I want to see a low volume rise into the resistance where I will look to get short at. See the charts below.
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