Friday, March 12, 2010

Some observations...

Firstly, the markets have been acting a bit weak this morning. It appears that we are finally going to have "that long over due pullback". I would love this as this would result in alot of the stocks I like right now setting up tradeable patterns.

I passed on CAGC this morning as it gapped up big time. Risk/reward coupled with extremely over bought markets that appears to be weakening is telling me to stand aside.

CTEL, a stock I highlighted in an earlier post as a basing stock which tried to break out but failed is now poised as a potential swing buy after a beautiful pullback to the 50 day-MA.

GFRE, after breaking out of a"triple bottom" pattern is now pulling back orderly to support at the 50 day-MA just above the $11.00 breakout level.

I will definitely be keeping an eye on both of these stocks going into next week for quick swing trades.

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