We looked at CMGE last night as a long idea in front of the BABA IPO.
Even though the stock was up over 7% on Thursday and may smack of chasing, I believe it is worth another look into Friday for potential pin action.
On the 30-minute chart, below, note the highlighted bull flag formed yesterday afternoon (light blue lines)
If all goes well with BABA, this one may be ripe to break higher yet for another momentum long, if only for a quick trade.
Drop me your top tickers overnight.
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How about PCLN?
Thnx!
LULU
TRQ, NOR, AXAS, CLF
Got to stick with financials & brokers – large/mega caps were also getting strong.
Long ideas – MMM, ABT, ADM, BRK/B, COF, SCHW, C, CYN, CMA, DFS, DD, EEP, GE, GSAT, JPM, KEY, MA, PRU, PTCT, STI, WFC
I’m guessing shorting credit cards is no longer in the playbook?…