Trade Signal LEAP_052710

Trading Signal Buy Chart

Trading Signal Sell Stop Chart

Today has been a volatile trading day and our sell stop signal was triggered. As stated in the price motion analysis on LEAP in the Trading Concepts section, LEAP may be in a triangle formation which when broken trades aggressively. It may be the smartest way to trade this is to wait for the breakout and retracement correction. A new trading signal will be entered after this correction appears to have been made. Until then, longer term traders or traders that chose to average into there positions should use the 12.83 support level as point of reference that the uptrend remains intact. Watch for corrections to buy into an intact uptrend if LEAP breaks out towards 18.00 and holds the 16.42 level as support.