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Long Medtronic (MDT) at $38.15

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July 27, 2012 – Comments (0) | RELATED TICKERS: AAPL , MDT , AUTH

Nothing better than waking up to the news that the stock you swing-traded just a few days ago (and did hold overnight mind you) was bought out by Apple (AAPL) at a 60% premium from your entry price. And here I was satisfied with the 3% gain that it yielded. It happens. No sense in staring up a dead horse's rump. 

In any case, I added one new position to the portfolio today in Meditronic (MDT), which is actually the second time in the past week or so I've bought this one. 

Notice the inverse head and shoulders pattern, coupled with a double bottom.  I love the risk/reward setup as well. 

Here's the trade setup in MDT.

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