New Watchlist Setups for Monday 1/25
Posted by lasertrader on January 25, 2010
The markets had their decisive break of the channel last week and continued down strongly for 2 days. We are at or close to being very oversold and I expect a bounce in the next day or so. Please read The Big Picture here for thoughts on targets to the upside.
For swing trading its very important to enter the market at the proper time. One of those time will be coming up in the next day or two. The bounce will finally setup some nice short candidates and I encourage you to be patient and wait for the proper setup. Hopefully I will be able to find some nice setups tomorrow or Wednesday.
For now I remain in daytrading mode taking small profits when offered. There is a lot of sector rotation going around with each sector taking turns getting hit.
A couple of potential long scalp stocks for your radar are APWR, AAPL, RINO, CREE . Plan your entries and exits carefully.