I made a couple of trades today – the first in AUTH as a long bouncing off of significant support (and finished the day with tweezer bottom). Should we see a bounce tomorrow, AUTH should see a nice bounce come with it.
Here's the Trade Setup in Authentec (AUTH).
In my second trade of the day, I got into Ameribergen (ABC) as a short position at 37.48. I don't expect the stock to dive aggressively, but do believe it to be a nice balance against my existing longs in the portfolio.
In the chart below, I've included my entry and my stop which can range between $38.76 and $39.07, depending on your risk profile. My ideal target would be $34.78.
Here's the ABC chart setup.
Be Sure To Check Out Ryan's Blog At SharePlanner.com
