Thursday, December 30, 2010

UTX and MRVL Trade Ideas

I've had both on a watchlist and they both just triggered levels I consider to be important. Both are short trades as well.

 UTX is breaking down out of a wedge like pattern. The initial breakdown and period just after can be volatile so if you enter the trade, I would give it room on the upside for the stop as a false upside breakout is not out of the question. Initial target of at least $74.

MRVL short, has also broken support, this is a small rectangular top and the distance for a 2nd test of resistance wasn't as far to go as the first, that was the first failure, the lack of even an attempt, then the break of support, I like this trade a little better of the two, but there in totally different industry spaces so they offer some diversity.

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