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Set-up For Tomorrow: Long HD
On June 23rd, 2010 11:56pm Eastern Time




The Trade: Home Depot Inc (NYSE:HD) is nearing an important support area around the $30.00 level and could see a sharp technical bounce from an oversold condition. Traders can buy HD long around the $30.00 - $29.75 area. The Ultimate target is $32.12. Please take 1/3 -1/2 of the trade off the table after a 1.00 point gain and move the stop loss to break even. Risk $1.59 from the entry. 

Important Note: Should the stock gap down below the 30.00 - 29.75 entry level do not take the trade. In that case traders can go long at $29.44 - $ 29.25. Risk $1.59 from that entry if needed.

Market Condition Note: It is always important to know the weather outside. The current mid cycle (Short term trading cycle) is down into late June or early July. Therefore, a short term market bounce is anticipated around this time(late June and early July). Short term trend changes often occur around major holiday's. Sometimes these cycles can occur early, however, it is important to not overload in positions at this time.  

Disclaimer: All comments made by Inthemoneystocks llc and its subsidiaries, instructors, and representatives are for educational and informational purposes only and should not be construed as investment advice regarding the purchase or sale of securities, or any other financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities mentioned herein. Inthemoneystocks llc and its representatives assume no responsibility for your trading and investment results. All information for on the website was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. Inthemoneystocks llc, its employees, representatives and affiliated individuals may have a position or effect transactions in the securities herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves a very high degree of risk. Futures and Options trading are not suitable for all investors. Past results are not indicative of future results. Inthemoneystocks llc, its subsidiaries and all affiliated individuals assume no responsibilities for your trading and investment results.



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