Good evening StockBandits!
Some back-and-forth price action today meant no lasting momentum, and ultimately left the major averages little-changed from Wednesday’s closing levels. The NAZ was up fractionally, the S&P down fractionally, and it seems traders are on hold waiting for tomorrow’s employment data in the pre-market.
That’s been a big focal point for some time now, as everyone knows jobs are needed for a lasting recovery. As is always the case though, it’s not necessarily the data that matters so much as it is how the market responds to it. So, if the number is way out of line, expect a sizeable gap to start the day.
The overall market seems to be stalling out here though, and if that happens to get resolved to the downside, it won’t necessarily be a bad thing. We’ve not seen any meaningful profit-taking since August, and that would certainly help to shake up the charts of individual stocks and help create some new bases from which new trades can be placed. So the big picture seems to be stagnating just a bit here, and we’re also coming into earnings season again. That’s going to keep things a bit tricky, so we’ll stay on our toes and avoid forcing trades for as long as this indecisiveness remains present.
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: CSIQ, SNIC, CHKP, VMC, CF
Swing Trading Candidates:
NONE TONIGHT
Bullish Watch:
MMR, FOSL, GILD, BORN, MHK, MAN, TRW, DISCA, CSIQ, ALGN, SNIC, YGE, BKD, COST, ALTR, A, DRIV, CHKP
Bearish Watch:
LLL, GMCR, THOR, SLAB, V, VMC, BBT, WMS, CF, SLXP, EDU
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.
