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Long MENT At $11.06

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November 11, 2010 – Comments (0) | RELATED TICKERS: MENT

I will admit, I was a bit nervous about pulling the trigger on this one, but you have to put those feelings aside, and trade off of the charts, and at the time I bought Mentor Graphics (MENT), I noticed the the market was consolidating at its lows and trying to bounce off of the current upward trend-line as well as the 10-day moving average. MENT was also holding support at where it broke out yesterday, and offered and intriguing trade setup, so I took it. Granted this market could reverse and go lower, and totally blow me out of this position, but that is the inherent risk that goes along with trading. 

Here's my chart analysis on MENT.

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