- New Trades -
(June 01, 2013)
Has the market correction finally arrived? It feels like we've been waiting for a pullback for a long time. I expected the market to peak in the second half of April or the first half of May. It looks like I was a couple of weeks off. Of course the overall trend is still higher. The rally may not be over yet.
Overall we do not want to chase this market. Stocks always correct eventually. With what looks like an imminent pullback we do not want to launch positions tonight. We are adding three new candidates to the watch list. Plus, I have narrowed the radar list of candidates again.
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:
CBI, M, UNP, TJX, PNRA, SBUX, GRPN, CY, NKE, UA, WFR, GS, ODFL, JNJ, BIDU, HD, TM, AXP,