By: Marc Sperling of T3Live
Despite the sneaky two-day bounce we have seen to start the week, the market still feels like it is in correction mode. While the indices are holding up relatively well, I am seeing the risk off trade taking place increasingly. A lot of money seems to be rotating around to more value, dividend oriented sectors.
These slower large cap stocks are not usually our sweet spot, but you have to take what the market gives you. For today I am looking at a range bound tape and respecting support and resistance levels. My play of the day is in Juniper Networks, Inc. (JNPR), a semi stock that had a good start to the year with a bit of a sell off that is looking to break a downtrend that started in late February. I am looking to get a feeler around here and will look to add above $38.50 with a short term target at $42. My stop is $37. For me the trade offers great risk-reward, which is my most important criteria.
