Did you jump on Juniper (JNPR) this morning? Here’s a follow-up to the last video. (February 01, 2016)
Juniper ( NYSE:JNPR ): I covered this over the weekend and I just want to get back to it. I don’t like to just toss trades out and then never revisit them. To be quite honest with you that just seems to be a stupid thing to do. Look, this is a stock, once again, I mentioned they reported earnings that weren’t that great, the stock gapped down. But this is a KEY trendline break here. So where does that matter? Like right up around $28.00 or so, here was the support trendline. So right around $28.00 or so, maybe 27.00, that really matters. By the way, I have no agenda on Juniper ( NYSE:JNPR ); I own some, I took advantage of my own trade, but before this I haven’t traded this stock in, I think probably, this century. The last century it was very, very good to me. The point I want to make is this: The stock is up above last Thursday’s earnings fiasco high. What was really important to ME though, was it breaking above the opening for Thursday and then Friday’s closing, or even really the intraday high of 23.60.
So you can go ahead and take some stock like there, which happened this morning. And then now that the stock is up above 24.00, which is a level that I had also mentioned, this is a trade. It’s a countertrend trade because the stock has been trending down. But this is a total crescendo bottom, just like this was a crescendo top. Big massive spike up one massive volume. And then a reversal here, big MASSIVE spike down on massive volume, then a reversal. The trend is still down but this still has some ways to go. So what am I going to do when the stock gets up to $25.00 or so? Again, it’s just for a trade, some goofy little trade. I’ll wind up either selling some, or just putting a tight stop in, or maybe a little bit of both. But in a choppy market like this, for you active traders, this is the kind of trade that you can make. Especially in this earning season, you can find these kind of things just about every day. So watch for this type of thing.
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