Lazy Trade Long & Short: GFA & ISIS
One new trade to report today and that is in Gafisa (GFA) - a stock that I'm pretty sure I've never traded in before, but is coiling nicely near the highs of its current price action.
I didn't wait for the breakout on this trade before entering, primarily because the risk/reward was so favorable at the current price, and there was significant support for the stock above the 20-day moving average.
As a result I added GFA to the portfolio as a swing-trade at $4.48.
Today's short setup comes from ISIS Pharmaceuticals (ISIS) which may seem surprising because of the incredible uptrend it has been on of late, but what you have is a perfect double-top pattern, followed by its confirmation and subsequent bear-flag. Once it can break the uptrend it is on, it should drop hard and fast.
Here's today's Lazy Trades.
LONG: Gafisa (GFA)
SHORT: ISIS Pharmaceuticals (ISIS)