Saturday, April 2, 2011

Watchlist for Monday...

It has been a while since I have seen as many quality long set ups as I am seeing right now! This is no doubt an indication of the bullishness in the overall markets that was not there a few weeks ago. At this point, however, the markets are a bit stretched. This is by no means a definite indicator of a pull back on Monday or on any day next week for that matter. What it does tell me based on historical precedent in the markets is that the odds of a big down day or two next week is very high! So be on alert for this. Apart from this minor concern your major focus should be on long biased day/swing trades! With that out of the way here are my watches for Monday:











As I have already stated, I am anticipating a big down day soon may be as early as Monday. If it does materialize then all my attention will be on shorts and in particular the only short on my watch list: $JVA. Otherwise if its business as usual then all my attention will be on the long swings with $COOL, $ADES and $PWAV as my favorites in that order.

Hope this watch list serves you well on Monday...Good luck and good trading!

No comments:

Post a Comment