- New Trades -
(June 15, 2014)
Equities experienced some profit taking last week. Overall the pullback was relatively mild. Unfortunately there is no guarantee the pullback is over and geopolitical tensions in Iraq and Ukraine could get worse this week.
The market is also facing a potentially pivotal event with the Fed meeting midweek and Janet Yellen's press conference on Wednesday.
The larger market trend is still higher but stocks I am urging caution when it comes to launching new positions. We have seen success with our watch list the last couple of weeks. Instead of adding new plays tonight I'm adding three new candidates to the watch list (EVEP, MSFT, and XOM).
Plus I have updated my radar screen.
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:
MYL, APD, CVX, SJM, AA, CSX, PTEN, CRK, ATVI, CHK, CRR, TKR, HP, OXY, CLR, SLB, SIAL, GMCR, SAVE, SBUX, ROP, EGN, MLM, VMC, DHR, MRO, CR, CYT, TMO, AAPL, LMT, FB