Trade Alert: LNN

If LNN cannot break above 120 soon, then it will have identified a downtrend for itself. The stock hit a high of 130 in May, the failed at 120 twice this month. However the price is in a counter up trend from 105 to 120. Now an up trend intersecting a down trend at 120 forma a huge wedge which is always something to keep an eye on. But this has a lotta beta on it so play close to the vest. I'll say long above 125 (above the downtrend line) short below 105 (below the uptrend line) and out in between. This one needs discipline so don't guess trade the break.