Good evening StockBandits!
Once again the major averages were unable to make any meaningful headway today, finishing little-changed on the session. Volume was down from yesterday’s levels, and for the most part yesterday’s trading ranges were respected.
The bulls got off to a very hot start Monday morning, but since then they’ve been unable or unwilling to build on it. They are either taking a breather here or we are seeing some churning at these levels with selling offsetting underlying strength, but either way it’s offered us no momentum to speak of, save for a few select groups (coal, energy, solar stocks and a few others). While we wait, I’m doing my best to stay patient. It’s going to be a long year with many opportunities, so I have no interest in forcing trades at this point. It has already been a very good week of trading with the plays highlighted here, and that’s a good spot to be in as it allows us to be selective. That’s my game plan heading into tomorrow, as I’m looking to keep my trading timeframes brief and stay on watch for the arrival of some better setups and momentum.
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: EQR, PLD, RDN, CBS, NTRS, MED
Swing Trading Candidates:
NONE TONIGHT
Bullish Watch:
EOG, CYBS, DOV, HNT, EQR, SBAC, PCL, MYGN, ATLS, PLD, RDN, INFA, RIGL, SNDA, FLR, ROK, HPT, MATK
Bearish Watch:
EXPD, CBS, RC, NTRS, 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.
