Good evening StockBandits!
The news of the day was centered around AAPL, not only for the earnings which came out after the bell but in wake of Monday’s announcement that Steve Jobs would be taking another medical leave. That left the NAZ opening on a weak note, but a recovery took place from the opening levels as the indexes moved steadily into positive territory to make new highs across the board.
This week is set to be a full one in terms of news, even with only 3 trading sessions left. However, the big question will be whether the news – be it economic or stock-specific – can either accelerate or reverse the slow-grind advances we’ve been seeing. The indexes crossed key levels last week, and still have yet to gain momentum. At the same time, they’ve had opportunities to pull back, and haven’t done so. That leaves us in a slow uptrend where many stocks are in working their way higher but few are setting up well-defined levels for new entries.
For Wednesday’s session, there are a handful of names I’ve got my eye on, so I’ll focus my efforts there. The trick at this point is to play the trend while respecting the risk of a pullback, because at some point we will see one. I’m doing that by taking new entries where there’s a well-defined entry, rather than chasing names which are already on the go.
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: ATML, MGA, MCK, ATW
Swing Trading Candidates:
NONE TONIGHT
Bullish Watch:
LEAP, MGA, DIS, MCK, ADSK, AGU, APKT, BEAV, ADTN, MCO, DMAN, OPEN, KSU, ARUN, XXIA, FOE, RAX, ATML, USG, HANS, CVD, HLS, JAZZ, MHP, LEN, MBI, ATW, TSO, CAT, KND, SFY, SD
Bearish Watch:
ORLY, AAP, GES, RCII
The Hit List is a separate post which contains discussion on open positions and swing trade stops and targets, so be sure to check it for further details on swing trades.
