Lazy Trade Long & Short: CMG & LPL (by Ryan Mallory)

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Thanks to the likes of Ben Bernanke, Harry Reid, and John Boehner, you give the market a near impossible task on holding otherwise solid gains when these three blathering glory hounds step in front of the camera. 

With that said, the gains that the SPX was experiencing with price establishing a higher-high now could be compormised if the market continues to head lower as it has for much of this afternoon. 

Nonetheless, I've got a couple of setups for you to look at for today's lazy trades. 

The first comes from Chipolte Mexican Grill (CMG) which is consolidating nicely near the highs and on the verge of a breakout if price gets back above $278/share. The short setup is with LG Display (LPL) is sporting an inverse head and shoulders pattern that is testing the underside of this market here. 

I also went long on BSBR today which was a long setup that was highlighted in yesterday's Lazy Trades by getting long at $7.03. 



Here's today's Lazy Trade chart setups

LONG: Chipolte Mexican Grill (CMG)

chipolte mexican grill CMG swing trade long out of consolidation

SHORT: LG Display (LPL)

LG Display LPL swing trade short

Be sure to check out more of Ryan's Swing Trading Strategies at SharePlanner.com