Good evening StockBandits!
A positive start this morning was followed by more selling as the indexes once again moved into negative territory. It was looking like more of the same from Friday, but buyers stepped in to offer some support after Friday’s lows were broken, and from there the situation improved. The indexes finished higher across the board, and although today’s gains paled in comparison to what was lost Friday, the bulls deserve some credit for stopping the bleeding.
Recent selloffs have resulted in 1-way moves where buyers stood aside for days on end, but that’s not what we saw today. The bounce we saw today may get erased in the days to come, but this preliminary price action for the current decline (from last week’s highs) is different from that we’ve seen in recent pullbacks.
Needless to say, it’s a good time to exercise some caution until some better technical signals come along, so I’m looking at some short-term trades heading into Tuesday.
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: VMW, STP, CTCM, OIH, NYX
Swing Trading Candidates:
NONE TONIGHT
Bullish Watch:
PPO, YGE, SOL, ABV, VMW, TSLA, CLB, OIH, STP, WY, ADTN, CTCM, AZO, EXPR, TUP
Bearish Watch:
FRO, RS, CF, NYX, MA
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.
