Thursday, May 19, 2011

LEI Trade Update

We looked at this trade May 13/18 (yesterday), today we have a nice 10+% gain.

 Here are the dates we looked at LEI as a long trade.

 There's several nice longer term divergences which make me think there could be more upside.

 15 min positive...

 The 5 min is starting to lag, which can be expected with profit taking on a 10+% move in a day.

At this point, I'd be trailing a stop in hopes of catching further upside. This is a 22 bar simple moving average on a 30 min chart.

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