Trade Signal LEAP_101509

Trading Signal Buy Chart

Trading Signal Sell Stop Chart

Both the monthly trading range low and the daily trading low were taken out today triggering our sell stop signal. This stock is in the process of correcting on its daily wave 5, not testing a wave 3 reversal. Keep an eye on its duration period however. There are corrections even in stocks that are in a downtrend and is important to be able to trade these smaller uptrends on down days. LEAP may still have more room to the downside after todays low, but the upside potential is still worth watching for. The duration period in the chart is close to a possible trading duration range turning point. Check out the strategy blog post about LEAP to find more information about the duration periods realized in LEAP.

Trading Signal Short Term Profit Chart