Good evening StockBandits!
The major averages put in a day of rest today, unable to build on Tuesday’s gains. That’s an encouragement to both the bulls and the bears, however, which brings an interesting dynamic to the table. The bears view it as a lack of follow through, while the bulls see it as simply a day of healthy digestion without giving back any ground.
Time will tell which side is correct, but for now we’ve got a market which has so far held short-term breakouts to the upside. Today we also saw some important areas tested intraday, which I’ll mention in the video that were pointed out here last night.
In terms of new setups for Thursday, a few candidates appear ready to go but each of them are for day trades. I’ll again be taking a mixed list into the session with both long and short candidates, which proved beneficial today given mediocre results with AGP, UA and FOSL were all outshined by SODA making a big run. Trading is indeed a numbers game, so it’s not about selecting one or two names and hanging hopes on them for any given day, week, or month.
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!
Video Stocks Discussed: ECA, FCX, OPEN, SINA, GMCR
Swing Trading Candidates:
NO ADDITIONS TONIGHT
[table “195” not found /]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.
