GALE/QCOR Pair Update

Yesterday I suggested GALE as a hedge/pair trade to QCOR short

And although as I mentioned,  "It's not easy to buy a 12% gain, but that is where the phasing in works, allowing some room for a possible pullback"


Gale has put in a 11+% gain today and a +19% gain from the time it was featured yesterday.

 GALE advancing on volume today, likely already in the mark up phase.

 The bigger picture in GALE on a daily chart.

While QCOR is breaking down from an obvious top. With both stocks in the same sub-industry group, this is a beautiful pair trade.


If you want to consider a GALE long (I'd prefer it as a pair trade with QCOR short), I would wait at this point for the next pullback before entering in any size (keep in mind this is also a speculative trade so the amount of capital committed to GAIL should be less then QCOR).


The next likely pullback in GALE should be between it's 10 and 22 day moving averages. The target on QCOR is around the $20 area.