The U.S. market continues to hold up reasonably well. Outside of commodity-related issues the profit taking last week was relatively mild. Now we're facing the last week of the first quarter. Will stocks drift sideways or will window dressing fuel another rally?
Currently estimates for the upcoming Q1 earnings season are not very optimistic. Stocks could end up seeing a sharp sell-the-news reaction to disappointing earnings news. Thus I am a little reluctant to launch new bullish positions at this time. However, we will continue to jump at opportunity when we see it. I've added two new candidates to our watch list tonight (ATVI and OMX). Plus TIVO graduated from our watch list to active trade last week.
Tonight I am updating my radar screen. Here are a few symbols that could present an entry point opportunity in the next few weeks.
V, DD, GLW, CIEN, WYNN, HOTT, DIS, BIDU, HOT, and SHAW
(note: SHAW has earnings on March 29th)