I entered a long position in Trulia Inc (TRLA) a minute before the close at $34.6699 today (I didn’t pick that number. My limit order was $34.67.) The reason I took the trade. TRLA broke the down trend line and has bounced off solid support (as seen the picture below). TRLA history: the last time TRLA broke a down trend line it was 1/7/13 ($17.61) and one could have road it up and exited 10/11/13 ($43.53) for a 147% return in about 9 months.
SBUX is trying to break a Weekly Bar down trend line this week. To confirm a break of the down trend line SBUX has to hold above the trend line tomorrow. I entered a long position today at $75.10 trying to get in early.
The break out to new highs from the bullish flag was short lived. I saw a close below the open of 3/4/14 (the break out) as sign to sell. With today’s close price below my support I closed my position at the close price of $26.70. This was a losing trade of -1.48%