Legg Mason (LM)- Buy Long??? Scottrends.com posted LM as a long in today's Chart Logicz

Apr. 12, 2011 3:42 PM ET

59 Followers

Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Seeking Alpha Analyst Since 2011

Scott Mason-Founder www.Tradalyticslive.com Mr. Mason is the original creator of Tradalyticslive.com and currently overseas all business and product development for the firm as well as the design, implementation and creation of Trād•A•Ly•Tics individual products. Scott began his professional trading career over a decade ago after mentoring under some of Wall Street's top traders. His diverse background and experience in technical analysis and trading dynamics is one of Tradalyticslive.com key factors to its unparalleled success. In 2002 Scott launched Sterling Capital Management, Inc. which is a successful Registered Investment Advisory Firm focused on Fee-based Portfolio Management, Estate Planning, Trust design, 401k & 403B planning, and Insurance. Over the years Scott has built partnerships with fortune 500 companies, such as Paychex, and underscores his dedication and commitment to success. Prior to Sterling Capital Management, Scott received his undergraduate degree in Finance from the University of Central Florida. He began his financial career at First Union Bank in 1998 where he received his security licenses. After which he became the East Coast regional manager at Huntington Bank responsible for branch production, investment training, client relationships, branch audits, and community development.

LM is displaying relative strength while it consolidates in this Bull Flag pattern below. Our buy trigger is in the price range of $35.90 adding more shares as it goes topside through 36.50 for a trade up to target area 37.50+. Compared to other financials, LM has the highest probability of going long based on a technical daily chart pattern. Look for support levels on the Nasdaq (Compx) near 2705 and support on the SP 500 at 1303.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You