SPLS...

Entered a trade in SPLS after it fulfilled all my necessary criteria. Consumer stocks frighten me a little due to same-store sells numbers and the FED and all that mess, but this stock is looking good today and a quick trade may net some cash.

The trade is based on a bullish engulfing yesterday after a modest decline. A slow stochastic cross-over and up-trending CCI support the trade. The upside:downside ratio is a little weak, but I am running a tight stop to protect my capital. Normally, I'd place my stop at the low of the engulfing candle (~$21.25 in this case), but I've moved it up to ~$21.50 based on the early morning price action and the previous resistence the last few days. See my notes for the my targets

Notes:

For now,
Masterjaz out