Lazy Trade Long & Short: JRCC & EQIX
Swing Trading Strategies Long & Short
It is so easy to want to sit on the sidelines today and tomorrow and avoid the trading all together until a President is elected and all this hysteria has come and gone.
But hey, you all don't come to SharePlanner for me to sit here and do nothing, so I scoured the stock market universe and found two trades that I really like. The first trade is in James River Coal Company (JRCC) and I'm long there from $4.57. My stop-loss is at $4.37 which I'm hoping will hold through tomorrow without much problem, because my intention is to hold this through Wednesday.
This is a pure speculation coal-play that assumes Romney wins this election, which I strongly believe will go his way tomorrow night. So if you don't believe the same, I wouldn't trade JRCC.
The short setup isn't quite ripe for picking at this point. But Equinix (EQIX) is in a distributive triangle pattern puting in consecutive lower-lows since hitting its highs back in September. Once it gets into the $178's that is where I'm looking to take my short position. Here's the swing-trade setups I'm watching