(December 02, 2012)
The market has produced an impressive two-week bounce off its mid November lows. The short-term trend is up. Yet there are a lot of potential headwinds for the market this week. I suspect stocks could see some profit taking, which could be followed up with a Santa Claus rally. That may be especially true if lawmakers come to a deal on the fiscal cliff. Unfortunately at the moment there is a stalemate on the cliff.
I am not adding any new trades tonight. We did have two watch list candidates graduate to our active trade list this past week. I've added three new watch list candidates tonight and all three have the potential to be triggered soon.
Here is a list of stocks on my radar screen. These have potential to be LEAPS trades down the road if the right entry point presents itself:
RYN, GIS, HSY, PCP, DDS, SLV, CRR, QCOM, MTW, PSX, CLX, F, GM, KO, PEP, TCK, LVS,
APKT, GGC, JBHT, CLB, TJX, LSTR, GOOG, MA,