Monday, June 10, 2013

LULU day trade

This stock is gapping close to the 200 day moving average tomorrow, close to 71.5. There are 2 ways to play it depending on how it reacts in the morning 1st 5 min.
1. If it opens near the 200 day ma and then goes down, then this can be shorted below the 1st 5 min bar low
2. If it opens near the 200 day ma and then goes up, it can be played long above the 1st 5 min bar high.

Will have to wait and see what it does.