Monday, April 18, 2011

Update and watch list for tomorrow...

UPDATE

Due to being very ill, I did not post an update for Friday nor watches for today. Although I did tweet some set ups that I liked for today's session like $NEOP and $SPPI which worked very well. So on Friday, I did not open any new positions. I only closed out my long positions in $HYGS and $MCZ for small profits as can be seen in my "Recent Trades" table to the right. From Friday's watch list, only two stocks triggered: $MRGE and $SHZ but neither of them followed through and both would have certainly stopped out today if not on Friday for small manageable losses. The markets gapped down today and followed through some what after setting up a very bullish swing low on the daily charts last week. This is a very bearish sign along with a number of the leading stocks breaking down after extended runs like $MCZ, $VHC, $HERO and $SHZ for instance. In the short term, at the very least this is an indiciation that further selling is around the corner and possibly even in the longer term but I am not a long term trader so this does not matter as much to me. I am not calling a top here but just saying to be careful. Therefore, apart from the bio-tech/ stocks which are strong at the moment, I am bearish on the over all markets and very bearish on the semi's which look like they are putting in a longer term top!

WATCH LIST

Long Ideas



Short Ideas







Good luck and good trading!!

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