Just as I'm writing this post, I got in Aruba Networks at $16.79. The ideal breakout level is at $16.76, which is where it just dropped back down to. I really wasn't planning on increasing my exposure to the long side today, because of the belief we might see a short-term pullback, so as a result, I'm going to cut one of my other longs that I still have. It'll likely be AIG, which has some nice gains, but not a stock, I want to hold much longer anyways.
The short comes from Dunkin' Brands (DNKN) – yes the Donuts company. They've seen a nice sell-off lately, and look like they are setting up for another move lower as a result with the bear-flag formation it is currently in.
Here's is today's lazy-trades.
LONG: Aruba Networks (ARUN)
SHORT: Dunkin' Brands (DNKN)