wash, rinse, repeat….  once again T1 has been hit for the TXN re-cycling short trade.  of course this is just one stock but it helps to illustrate how one can make money even when a stock (or the stock market) goes nowhere in a sideways consolidation range, which is actually my alternative scenario going forward for the next few months.  sideways markets eat up and spit out portfolio managers and most retail investors.  technical analysis can actually shine during those times but allowing an active trader to make money by playing the ups and downs within a trading range.

although one might cover all or part of the most recent lot of TXN shorted at the top of the range recently, i’d say the odds favor a break of that support here soon so once could also tighten stops on the position to assure profits but leave the door open for additional gains if T1 support breaks and T2 is hit.  last two charts below, today’s chart first.