MERQ stuck here in a lengthy consolidation. It can go two different ways. Since we are already IN MERQ, we look for the BREAKOUT above 47.50 hope it doesn't go below 47.12. This is the lengthy consolidation intraday. I don't particularly like chasing these typical "fake out" plays which is why I prefer earnings plays or strong momentum plays but MERQ did trigger @ 47.25 and a trigger is a trigger! You might put a stop below 47 to risk losing that $0.25 paper profit. A bonafide daytrader might just have taken the MERQ profit of $0.25 and been quite happy. I don't leave anything to chance or "I think I'll buy this or that for a scalp"... it has to have a strategic reason to buy. The Dow is terric which is why we don't hang around those techs too much.
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