Speaking of tests of tops, IBM is where Genzyme was a day ago. Many of you will note that this is a special case, the Trader Vic 2B test of top. The sell short alarm should be placed at yesterday's low, and if triggered, I suggest a tight initial stop loss to be placed at today's high, whatever it might be at the time the short sale is executed. We would like to see it close below yesterday's low in order to take the trade home. The first downside target is the 20-day EMA below at 97ish.
NOTE: Remember that many of these trades can be done using our in-the-money options strategy.
04.02.05 09:29 #