Two Speculative Long-Side Trades
A technically oversold condition and end-of-the-quarter performance envy could move the market higher over the short term. Today I want to look at two speculative long trades which could benefit from a brief pop in the broader market.
The price action of the first candidate, Netflix (NFLX), needs to be put into historical perspective before considering taking any position. The decline in the stock since June 2011 can be seen on the weekly chart, and it has been dramatic to say the least. There is serious technical work to be done if the stock is to form a stable base from which it can move higher over the intermediate term. On the daily chart, however, a short-term basing process may be under way, which could provide a tradeable bounce....387 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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