Lazy Trade Long & Short: GS & SYNC
Only one new trade for me today, and it happens to be in the stock being featured in today's Lazy Trade Long.. Nonetheless, the market looks like it is in a state of perpetual selling, which isn't at all that uncommon when we gap up, and follow it with an immediate sell-off.
We are also below that trend-line off of the June lows, which makes me get much more conservative in general.
Here's the Lazy Trades.
LONG: Goldman Sachs (GS)
SHORT: Synacor (SYNC) [Note: SYNC reports earnings today... wait till after their report to determine if the trade setup is still valid]