Wednesday, October 11, 2006

Trade of the Day - Autodesk, Inc. (Public, NASDAQ:ADSK)

I got a late start following some morning meetings and was just about to put off trading today due to choppy market conditions and the upcoming FOMC minutes, when I came upon this low risk short entry on ADSK. As it turned out all the news in the afternoon was bearish so the trade was able to run its course. The setup was a short following several NRBs curving lower under the weight of the MAs. I covered as price bounced off of support.

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