Stop: <53 (approx 52.5), -4%
Reason: Oversold to "Key Level" that has held declines after the last three reports.
Risk: Less than half of the upside potential.
Reward: Up to the last release level at the 60 level.
With the S&P up strongly this morning and relief from a Chinese market rally despite terrible export numbers, market participants can see that the market is oversold and short covering is the game of the day. With the idea that we want to buy low risk long positions here OR go after heavily shorted names to go long, here's a safer one that is right on support that isn't looking UP big this morning.
9:18AM Tuesday Sept 8, 2015