Lazy Trade Long & Short: NTE & DRC
Today's Lazy Trades (gotta love today's picture too!) comes with me jumping into NTE at $11.38, which really hasn't been that great of any entry so far as it dipped below that level since getting in. Nonetheless, the stock is seeing insane amounts of volume while trading sideways the past few months.
As it breaks out today, I plan on keeping my stop-loss below the 10-day moving average and ridiing the stop-loss with the move higher (should it be so kind).
For the short setup, Dresser-Rand (DRC) looks devilishly bearish with its double top and bear-flag rise into resistance. Now that it is trying to break down today, it makes for a great risk-reward opportunity.
Here's today's Lazy Trades.
LONG: Nam Tai Electronics (NTE)
SHORT: Dresser-Rand (DRC)