Editor's Note:

Currently the U.S. market looks overbought and extended after an exceptional first quarter performance. The major indices are up between +12% and +18% in just the first three months of the year. Normally that would be a great return for the entire year.

I am concerned that stocks could sell off and begin a correction once Q1 earnings season begins. Thus I am cautious on launching new positions so I'm not listing any new trades tonight. However, I will point out that our watch list continues to generate new entry points on a weekly basis. We just had three watch list candidates get triggered this past week.

In addition to our watch list readers may want to keep an eye on these stocks below. These symbols are on my radar screen for a potential addition to the watch list or an outright trade if conditions warrant adding them to the active trade list.

On my radar: CI, MCP, EXPE, WFC, FNSR, SCHW, JNPR, CREE, AIG, LRCX.