Two Sides to Every Coin

With all this Columnist Conversation talk on FedEx (FDX) today, I think a look at United Parcel Services (UPS) may be worth it, as well. FedEx is strong at these levels -- the stock has been riding a nice trend line since June 24, and technical traders may have been using this channel as a way to profit.

FedEx (FDX) -- Daily Source: StockCharts.com View Chart » View in New Window »

I could easily see a technical trader buying at $96, then selling at $110 resistance, followed by a buy again at support of $102 and another sell at $110. Sure, they were likely forced to buy the flag breakout a bit above $110, but clearly had chances in front of $111 to enjoy this latest move, but that would still leave a technical trader with the potential for a $24-to-$25 gain on a $17 move. Even if each move weren't timed exactly, I have to disagree with my colleague Paul Price on his contention that a technical trader, even a momentum trader, would have missed $20. In fact, they may have made more....311 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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