New Watchlist Setups for Monday 2/8
Posted by lasertrader on February 8, 2010
I was under the weather for most of last week and was unable to update the blog. Hopefully I can get back on track this week. Last week was an interesting week that was filled with fear and greed in the markets. Where do we go from here? Read the BIG Picture for my thoughts.
Although I was not updating the blog I was trading the setups/alerts and we had some nice trades last week. The shorts were closed earlier on Friday when we approached Fibonacci support in the indexes.
JCG for 2.7%, AMSC for 14.4% and RHT for 2.2%. Its a dangerous market so I am trying to be nimble and take profits quickly. I will continue this approach until some new direction emerges. Any gain is a good gain in this market.
There are two longs I have added to the setup list for today, TWC and MNTA. If either of these trigger, please keep a close watch because the market can reverse down just as fast as it reversed up on Friday. Its a very nervous market we are in and the volatility is high.
TWC long over 45.53
MNTA Long over 15.28