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Go Long MON, Short URBN

Monsanto is breaking out while Urban Outfitters' chart makes for an intriguing short


Futures continue to consolidate near their overnight highs, with very little in the way of economic reports to affect change on that, so it will be up to the bulls and bears to determine whether they are in a profit-taking mode or if they want to push this market even higher today.

The jury is still out, but I’m going to be waiting for a pullback with a number of long setups waiting in the wings.

Long: Monsanto Company (NYSE: MON)

Short: Urban Outfitters, Inc. (NASDAQ: URBN)

The company reports earnings on Nov. 15.

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