Good evening StockBandits!

More new 52-week highs were made last week as the major averages tacked on early gains and held onto them as the week progressed.  A minor dip from the highs was seen in the latter portion of the week, but it was mostly a brief rest for this market which continues to push higher without any meaningful pullbacks.  That dynamic is frustrating both bulls and bears alike, as the buyers would like to get in on the rally and the short sellers can’t get any lasting downside to set in at all.

At some point, that will change, and it’s important for us to recognize that.  One of the toughest things about being a trader is walking the line carefully between trading what we see and looking slightly ahead to plan for what may soon arrive.  I’m not claiming that a bear market is right around the corner, but eventually we are going to see a pretty good pullback, so it’s imperative that we continue to monitor the price action and the character of the moves in the days and weeks ahead.  Once some elements begin to shift, it’ll be a good signal to take a more defensive posture, but right now it’s tough to get even a brief rest in stocks to create some new patterns.  Patience is important in a tape like this, so we can’t be in too big of a hurry to either deploy capital or call a top.

As we head into a 4-day trading week (with the market being closed on Friday for the Good Friday holiday), the bulls maintain an edge in both the technical and psychological realms.  We have some key levels to keep an eye on, but otherwise the uptrend channels are still very much intact and deserve our respect.  While we wait for better conditions to surface for putting more capital to work on a multi-day timeframe, day trades look best so I’ll be taking a quick-hit approach for Monday.

Please leave your comments and/or questions below if you have any, I always enjoy the interaction.

Here is tonight’s video:

The Bandit Broadcast Video – Click to Watch!

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Video Stocks Discussed: LPNT, HMA, MLHR, EFX, JCP, HAR, BA, SYNA

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

COL, BA, EFX, LEA, GD, DLTR, TRW, CISG, JCP, LPNT, ODP, HMA, HAR

Bearish Watch:

ANW, UTHR, SYNA, MLHR, SQM, MED

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.

Trade Like A Bandit!

Jeff

Good evening StockBandits!

Another push higher this morning took the indexes back to more new highs, but the strength proved to be fleeting as an afternoon selloff erased the day’s gains.  It wasn’t a negative experience though, as the major averages finished just a short distance from Wednesday’s closing levels.

Today’s afternoon rollover does indicate some fatigue setting in, as it’s been unusual to see this market give up gains.  What it’s been more known for is its ability to erase deficits, as stocks have been bought on every single dip.  A move like we saw this afternoon doesn’t mean the party is over, because the bulls are likely to defend their recent success, but it does indicate some added caution on the long side is warranted here.

With that in mind, I’m planning to take a pretty conservative approach as we head into the final session of the week.  Spring fever may hit traders with the urge to get away from the screens in the afternoon, and I want to be mindful of that as well and stay selective.

Please leave your comments and/or questions below if you have any, I always enjoy the interaction.

Here is tonight’s video:

The Bandit Broadcast Video – Click to Watch!

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Video Stocks Discussed: LEA, DPZ, MED, ANW, SQM

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

DPZ, JOE, LEA, AIG, A, CPE, AET

Bearish Watch:

MED, PXP, ANW, KOL, SPWRA, COG, UIS, UTHR, SQM, HP, RRC, SYNA, DTV, CF, SU, DO, AGQ, ECA, MMR

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.

Trade Like A Bandit!

Jeff

Good evening StockBandits!

A minor gap down this morning set the early tone for the market on the heels of yesterday’s new 52-week highs.  However, traders allowed stocks to sit underwater for the remainder of the day, unwilling to step in (yet) and buy the dip.  To the credit of the bulls, as if they needed any, the downside didn’t gather any momentum either.  That left us with a slightly negative session which was characterized by a narrow trading range as much as anything.

Each of the indexes posted inside bars on their daily charts, which often times simply prove to be continuation setups for the prevailing trend.  We’ll know tomorrow whether that’s the case or not, but either way, this market has been relentlessly strong and deserving of respect.

After looking through a great number of individual charts tonight, there’s not an abundance of setups to eye for Thursday.  As a result, I’m looking to stay pretty selective and keep a tight leash on any new trades.

Please leave your comments and/or questions below if you have any, I always enjoy the interaction.

Here is tonight’s video:

The Bandit Broadcast Video – Click to Watch!

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Video Stocks Discussed: PHM, CREE, EFX, LYV, CPE, CTXS, UTHR, SWN

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

EFX, CSTR, CREE, FRT, H, BBBB, JOE, ACXM, CIT, MBI, LYV, CPE, PHM, CTXS, GRT

Bearish Watch:

UTHR, UIS, ADM, ATW, XEC, FSLR, KOL, SPWRA, HLX, SQM, SWN, JRCC, HP, RRC

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.

Trade Like A Bandit!

Jeff

Good evening StockBandits!

Modest upside this morning gradually gained momentum as the afternoon provided some additional lift for the market.  This created across-the-board breakouts once again in the indexes as short-term resistance zones were easily cleared.  That means we only saw 3 days of rest before the strength returned, which has been par for the course in recent weeks with this nonstop market.

With stocks still on the run, little has changed in the way of healthy basing action and thorough consolidations.  Most individual names still need to put in rest, but the updraft isn’t allowing them to do so.  Rather than attempt to predict when that may occur, our best bet is to keep working the charts in search of setups which offer some short-term potential.  Eventually we’ll see better conditions arrive for putting more capital to work, but at the moment selectivity is the key to not chasing this market too far.

Please leave your comments and/or questions below if you have any, I always enjoy the interaction.

Here is tonight’s video:

The Bandit Broadcast Video – Click to Watch!

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Video Stocks Discussed: CMG, CREE, VMC, EFX, ACXM

Swing Trading Candidates:

ACXM has trended higher for many months now, running higher and building sound bases along the way.  For the past few weeks, this stock has pulled back only a small amount, while generally moving sideways.  This is positive basing action, and today’s turn higher on a pick up in volume implies a breakout may be coming soon.  I’m watching for a move up through the trend line at $18.10 to trigger a buy as the uptrend begins a new leg higher.

Chart courtesy of StockFinder

Bullish Watch:

ACXM, CMG, CSIQ, JOE, GVA, DTG, FOSL, DCP, BBBB, CREE, CSTR, QCOM, VMC, MRX, BCSI, MELI, A, PNC, NTRS, MYGN, EFX

Bearish Watch:

HK, SNDA, ADM, SWN

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.

Trade Like A Bandit!

Jeff

Good evening StockBandits!

The weekend news flow regarding healthcare left traders skittish this morning, sending the futures markets lower and leaving stocks with lower bids.  The gap down on the open didn’t last very long though, as bulls and bears alike recognized rare follow through weakness and stepped in quickly with cash.  As shorts got covered and stocks were bought, the indexes moved into the green once again by a modest amount for the remainder of the day.

Traders on both sides of this tape right now are confounded by the one-way nature of this multi-week move.  Bulls can’t get a pullback to allow them a re-entry, while the bears can’t get a break for more than a few hours with the lack of weakness we’ve seen.  With everyone so anxious to see a decent dip, the market isn’t playing along.  At some point that’s going to change and better bases will be built, but for the time being, we’ve got to survive it and pull out some profits with some shorter-term trades.

Please leave your comments and/or questions below if you have any, I always enjoy the interaction.

Here is tonight’s video:

The Bandit Broadcast Video – Click to Watch!

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Video Stocks Discussed: ACXM, GVA, PNC, DCP, MRX, A, HXM

Swing Trading Candidates:

NONE TONIGHT

Bullish Watch:

PNC, DAN, ACXM, DTG, ATK, DPZ, LAMR, MGA, DCP, GVA, ITG, VMC, TIVO, MRX, BCSI, ROK, ALKS, A

Bearish Watch:

HXM, LAZ

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.

Trade Like A Bandit!

Jeff