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Lazy Trade Long & Short: GGP & SMFG

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1

August 17, 2012 – Comments (0) | RELATED TICKERS: SMFG , GGP , ARUN

I haven't done anything of note yet today in terms of adding or subtracting from my portfolio. I did come oh-so close to getting stopped out of ARUN - but before I could stop myself out, it bounced quite nicely. So now my stop-loss for ARUN is now $17.08 just below the day's lows.  

As for the two trades below, you'll want to temper you position size in the SMFG setup as it is a bit more gappy than I'd prefer, and also a lower-dollar stock. Nonetheless, the volume in it lately is soaring and going to hit some heavy resistance. 

On GGP, I've noticed quite a bit lately that the long-term up-trenders that begins to bull flag at the highs, have done very very well - and this particular play provides another one of those opportunities. But wait for the entry to come to you. 

Here's today's Lazy Trade Long & Short

LONG: General Growth Prop (GGP)

SHORT: Sumitomo Mitsui Financial Group (SMFG)

 

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