Thursday Morning - Citrix

Gator's Chart of the Day: CTXS

Citrix Systems is in its pre-earnings run.  They announce 1/21 so this will be a fairly short trade unless you want to break Fight Club rules.  Like most software/services companies CTXS has no debt and pays no dividend so this stock moves on cash flow, margins and revenue projections.  It's very liquid with average volume near 3.5 million shares.

The Trade 
I see a couple of possible entries.  A small starter (1/4 position) could be initiated on an up open and then grown quickly if the stock continues higher.  To be safe, place tight stops which are moved up as you fill the position.  Another approach would be to watch for a pullback to about 68.50 and buy (1/3 position) the bounce.  Again you would want to add quickly if the stock continues higher and your initial stop would be back in congestion around 67.25.

Edit: If this chart looks familiar it should.  sysin3 posted it Tuesday after market.