I have cautioned readers over the last couple of weeks that stocks looked like they might pull back in April. The correction certainly looks like it has begun. Now we'll have to see if a full week of Q1 earnings announcements will produce a bounce or accelerate the decline.
The market's are facing a number of headwinds mentioned in tonight's market commentary. Big picture it looks like stocks could struggle over the next couple of months. Thus I am hesitant to launch new long-term bullish trades. On the other hand this long over due market correction will provide us a new entry point.
I am not adding any new trades tonight. However, tonight we have added four new candidates to the watch list. In addition to our watch list here's a list of what's on my radar screen as possible candidates should we see an entry point:
On my radar: CI, MCP, SCHW, HSY, M, SHAW, YUM, V, GLW, BIDU, BBBY, MAKO, SYK, JBHT