Good evening StockBandits!
Last night’s news in tech land left the NAZ gapping higher this morning, but only limited strength beyond the opening bell was seen. The highs were marked in the first half hour of the day, and although the gap was filled rather quickly, the buyers kept things afloat. Ultimately, the indexes finished little-changed and with mixed results on the day.
Days like this which seem to be so news-heavy and yet which have such limited movement in the overall market can often be confusing for some. However, traders can tend to simply focus on individual names in times like this right in the thick of earnings season, making for some lively action in select stocks while the big picture does very little. Sometimes it’s a market of stocks, and sometimes it’s a stock market. Today’s action fits the former description.
Tonight many stocks are still trying to build bases on their daily charts, which means I’m again looking at a pretty select list heading into Thursday for trades. This will change soon, I would expect, but until then I’m looking to grab quick hits and wait for better swing trading opportunities to emerge. Heading into Thursday, day trades are going to be my focus.
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: APOL, FFIV, MASI, RINO, MON, RTI
Swing Trading Candidates:
NONE TONIGHT
Bullish Watch:
LPX, APOL, FFIV, GBCI, WMS, PDCO, NTRI, SUSQ, CBI, DV, FAST, GMT, AMAT, HXM, JEC, MAS, SMG, FISV
Bearish Watch:
CAGC, CLF, MON, RTI, SPWRA, MASI, FE, RINO, TX
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.
