I haven’t done anything of note yet today in terms of adding or subtracting from my portfolio. I did come oh-so close to getting stopped out of ARUN – but before I could stop myself out, it bounced quite nicely. So now my stop-loss for ARUN is now $17.08 just below the day’s lows.
As for the two trades below, you’ll want to temper you position size in the SMFG setup as it is a bit more gappy than I’d prefer, and also a lower-dollar stock. Nonetheless, the volume in it lately is soaring and going to hit some heavy resistance.
On GGP, I’ve noticed quite a bit lately that the long-term up-trenders that begins to bull flag at the highs, have done very very well – and this particular play provides another one of those opportunities. But wait for the entry to come to you.
Here’s today’s Lazy Trade Long & Short.
LONG: General Growth Prop (GGP)
SHORT: Sumitomo Mitsui Financial Group (SMFG)
