- New Trades -
(October 20, 2013)
The democrats and the republicans finally came together with a last minute deal which in all honesty is not that surprising. I've been saying that a deal would get done. It was only a matter of time (and timing). This does clear away a lot of uncertainty for the stock market. You might consider it the "all clear" signal for investors.
We are bullish on stocks. However, the S&P 500 is up +5.9% from its October low. During that same period the NASDAQ is up +7.2% and the Russell 2000 is up +7.3%. We are short-term overbought here. I hesitate to chase stocks at new highs since a dip is in our future.
Thus I am not adding any new plays tonight. We did see NOV graduate from our watch list to our play list this past week. I am adding three new candidates to the watch list (CRUS, JDSU, and LVLT). Plus I have updated my radar screen and added several new symbols.
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:
BBY, PFE, KSS, CS, WYN, BA, GD, NOC, ADBE, SBUX, FSLR, MSFT, JNPR, AKAM, NAV, PII, WDC, SIRI, AKS, VZ, GE, PCP, V, DDD, SI, ZMH, COF, CRR, AMZN, GS, UNXL, TWX, WLT, BTU, CTSH, CAH, TXN, CMI, X, SLB, JOY, FRX, NKE, UA, BWA, HP, CS, WYN, BA, GD, NOC, ADBE, SBUX, FSLR, MSFT, JNPR, AKAM, NAV, PII, WDC