Good evening StockBandits!
The major indexes battled back from negative territory today to finish flat, shaking off poor news in tech stocks CSCO and AKAM. The dip-buyers are still present, and whether it’s bulls who are putting cash to work on minor pullbacks or shorts who are anxious to cover doesn’t matter – there’s still a persistent bid beneath this market and the trend is up.
At this point, the market is respecting the short-term highs as it consolidates just beneath those levels. At the same time, we’re holding above former resistance zones, which offers a first layer of short-term support for the time being. We could see volatility pick up anytime, but for now the indexes continue to cling near highs without any shake-ups.
Heading into Friday, there are some setups on my radar for new plays, but I’ll be looking to keep my timeframe short for the most part. The Hit List has one swing which hasn’t yet triggered (along with a few which I’m currently holding), so aside from those I’m eyeing a few day trades ahead of the weekend.
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: ADSK, EL, PXP, HSC, BYI
Swing Trading Candidates:
NONE TONIGHT
Bullish Watch:
ETFC, ADSK, GTI, ADTN, LNG, PAY, KKR, KSU, LRCX, XXIA, JAZZ, MOS, LXK, URI, CELL, MON, SGY, JKS, RDC, STEC, SWK, ARBA, SWKS, BMC, EL, TA, PXP, CSX, FSLR, HSC, GRMN, SU
Bearish Watch:
HMIN, SLAB, DLB, F, BYI
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.
