- New Trades -
(April 20, 2014)
The rebound in the NASDAQ and the Russell 2000 has stalled at a new trend of lower highs. Thus I am hesitant to buy this bounce. V-shaped bottoms are not that common and would not be surprised to see stocks retest their April lows.
I am not adding any new trades tonight. However, keep an eye on the watch list. HES could hit our entry point soon. Our new watch list candidate CLX could also hit our entry point soon.
I wanted to add Eli Lilly (LLY) as a new play but the company reports earnings on April 24th. The safer move is to wait until after we see how the market reacts to LLY's results before initiating positions.
Keep in mind that a market pullback can be an opportunity for us. Big pullbacks can generate great entry points but do not jump in too soon. We do not have to catch the absolute bottom to be successful investors.
I have updated my radar screen below.
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. In no particular order:
MCD, CL, PEP, ADBE, CNX, HP, Z, STX, ATI, WSM, HAL, SLB, DO, HPQ, BRK.B, CSCO, HSY, UPS, FSLR, UPL, ORLY, FTK, BRKR, STZ, LUV, HFC, PBR, GLW, NBL, PSX, ALK, SNDK.