Mid-Day Swing-Trade Setups
Since the open we've seen selling pressure come across the market, and logically speaking, I'd expect it to continue through the day with it being a 3-day weekend (markets closed on Monday for President's day) and a very important meeting (yes another one of those) on Monday while the markets are closed concerning the bailout agreement. The bulls have banked a lot of profit at this point, and it would seem silly to risk it over this weekend. But hey....what do I know!?!
LONG: L-3 Communications (LLL)
LONG: Chesapeake Energy Corp. (CHK)
SHORT: Progress Energy (PGN)
SHORT: Frontier Communications (FTR)
Here are the chart/trade setups.