Good evening StockBandits!
Tuesday’s weakness was once again only a flash in the pan as strength returned today, nearly erasing yesterday’s losses. The major indexes each finished just a few points away from Monday’s closing levels, with the NAZ and S&P 500 each stopping just shy while the DJIA was able to push slightly through.
The bulls continue to find reward in scooping up every single dip in this market, no matter how brief. As long as that remains the case, we can expect them to behave in a similar fashion.
The real key will be in finding setups which offer a perceived risk/reward which is worthwhile, and in stocks which are not too short-term extended. That’s a tall order in the current environment, so selectivity is still quite important.
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: DRWI, ARM, ESI, TIF, BA, MDC, FAST, NTRI, TRV
Swing Trading Candidates:
NONE TONIGHT
Bullish Watch:
H, DAL, ABV, AXP, FRT, KIM, ESI, TIF, AEIS, LYV, TEVA, DRWI, ARM, X, HANS, MDC, CAT, IR, FAST, BA
Bearish Watch:
NTRI, ANF, TRV, LPS, FCN, FAF, FMX
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.
