Good evening StockBandits!
Q1 ended Friday without much excitement on the day, but it was quite a run for stocks since the completion of 2011. During the first 3 months of the year, we saw the NAZ tack on 18.6%, the S&P 500 and RUT each added 12% for the quarter.
For Monday, we come into not only a new quarter but a new month of course, and we have a 5-month streak of first-day gains. That could influence the price action to an extent, so it’s something to be aware of. We also have ahead of us a holiday-shortened week with the market being closed in observance of Good Friday, so we’ll have to make each day count.
The recent rest for stocks has been a very positive development from a technical standpoint, as it has allowed many individual charts to start setting up new patterns, some of which are ready now and some which will likely be ready for plays in the coming few days. I’ll of course list them here when they are ready.
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: XOM, HOS, SPW, USB, JEF, GM, CMA, INXN, FSLR, OPEN, LNG, CHMT, JOE, AMRN, SINA
Swing Trading Candidates:
NONE TONIGHT
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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.
