Good evening StockBandits!
The NAZ and DJIA upheld their streaks today as they went for 7 straight in the green. Today’s gains were more of a technicality than anything, as the single-digit advances hardly spoke momentum. Nonetheless, the market did a nice job of holding onto recent gains, and it seems for now that the bulls are in no hurry to give back ground.
The past few months have been very reversal-prone, and that’s not likely to suddenly change. With 7-day streaks on the line, it’s somewhat of a mirror image of what we were seeing just a couple of weeks ago on the downside. Relentless moves have characterized this market, keeping all of us on our toes if we don’t want to either get whacked or left behind once it turns.
Tonight there are only a few stocks I’m eyeing for trades tomorrow, although there are quite a few which have patterns in development. I’ll walk through them in tonight’s video, and hopefully you can not only add a few names to your watchlists, but also learn from the dialogue as I explain what I’m waiting for and wanting to see before taking action in these stocks. The market always requires us to find new ideas, so stay attentive to the charts and you’ll be able to see what’s cooking out there. As a result, you can then formulate the if/then scenarios for trades where your risk is defined and your job is simply to execute. That’s where I want to get those of you who are here to learn, while the rest of you can sit back and let me do the work!
One other note is that there will be no Thursday evening Bandit Broadcast this week, as I will be traveling. With option expiration day on Friday, that may be a good thing, as things tend to get tricky around those days. So, the next Broadcast will be on Sunday as usual. Trade smart these next couple days, stay picky, and enjoy your weekend!
I’ll cover my game plan for tomorrow in the video, and as always, feel free to share your own thoughts, trade ideas, and questions down below in the comments section.
Here is tonight’s video:
The Bandit Broadcast Video – Click to Watch!
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Video Stocks Discussed: PWER, SOL, STP, TSL, HAL, NE, RS, CREE, RCL, VCI, ARBA, PCP, WMS, DECK
Swing Trading Candidates:
NONE TONIGHT
Bullish Watch:
ARBA, PWER, PCP, ROVI, ITT, SOL, RINO, CLGX, APKT, TSLA, LCAPA, AAP, STP, TSL, HAL
Bearish Watch:
RGLD, PRU, CRK, WMS, SLW, RTP, DECK, GIL, RCL, VCI
The Hit List will be coming out soon with discussion on open positions and swing trade stops and targets, so be sure to watch for it.
