Good evening StockBandits!
Traders returned from the weekend to a choppy session today as the indexes got off to a soft open but soon recovered to move fractionally positive. The intraday ranges were narrow, as the indexes essentially marked time. The NAZ did clear 2592 to break out to a new high, which is positive, but it wasn’t followed by vigorous buying. That isn’t to say today’s breakout isn’t meaningful, but rather it should gain better momentum if and when the S&P 500 can accompany it with a push through 1227 (stopped at 1225 today) to join the NAZ at new 52-week highs.
There were some nice moves out there though, including NG from the Hit List which triggered an entry on Friday and today was at one point 10% above the trigger. I have notes on it with an updated grid in a separate Hit List post, but the point I’m making is that even on a dull day in the market there were some opportunities for great moves.
For Tuesday, I’ll be back doing some trading and will also be preparing for a free webinar Tuesday evening with the fine folks over at Worden. The webinar has been scheduled for a few months, and anyone can attend, so I’d love to see you there. Even if you can’t make it live, if you’ve registered you can still view a recording. I’m planning to work through many charts of interest and discuss the current trading environment.
With that being the case, and with my time availability running tighter at the moment with a brand new baby, the webinar will take the place of Tuesday’s video Broadcast. I’ll post a quick list of trade candidates in written format here Tuesday night for Wednesday’s session, and then will likely return to full speed on Wednesday evening here (fingers crossed).
By the way, here’s a shot of my new son Tyce, my lovely bride, and my older son Rix. Tyce & mama are home and doing great, and I appreciate all of you who have reached out to me during this exciting time for our family!
For Tuesday’s session, these are the stocks which are on my radar and the triggers I’ll be using for entries, all on the long side:
MWW $23.55 trigger
HANS $53.10 trigger
RIMM $64 trigger
HUN $15.90 trigger
FOSL $73.20 trigger
OII $74 trigger
Again, thank you for understanding that on this very special occasion for my family my duties are reduced here at the site temporarily as I’ve noted it would be. When I do return to full speed (most likely on Wednesday evening) you can expect the usual Broadcast you know and love! In the meantime, I’ll do my very best to share some ideas so as to keep you in the loop.
Go get ’em tomorrow!
Tonight’s report was all I require, assuming when you have more time you will have swing trades.
Yes Bill, that’s correct. The first baby I took a week off, this time just doing abbreviated reports for a few days.