Lazy Trade Long & Short: GFA & ISIS (by Ryan Mallory)

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One new trade to report today and that is in Gafisa (GFA) – a stock that I'm pretty sure I've never traded in before, but is coiling nicely near the highs of its current price action.

I didn't wait for the breakout on this trade before entering, primarily because the risk/reward was so favorable at the current price, and there was significant support for the stock above the 20-day moving average. 

As a result I added GFA to the portfolio as a swing-trade at $4.48. 

Today's short setup comes from ISIS Pharmaceuticals (ISIS) which may seem surprising because of the incredible uptrend it has been on of late, but what you have is a perfect double-top pattern, followed by its confirmation and subsequent bear-flag. Once it can break the uptrend it is on, it should drop hard and fast.

Here's today's Lazy Trades.lazy-man-10-01-12

LONG: Gafisa (GFA)

Gafisa GFA

SHORT: ISIS Pharmaceuticals (ISIS)

Isis Pharmaceuticals ISIS

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