- New Trades -
(July 19, 2015)
Now that the Greece deal, Iran deal, and Chinese stock market collapse is out of the way the U.S. market is celebrating.
The S&P 500 delivered its best one-week performance since March.
The NASDAQ composite sprinted higher to hit a new record. Both look short-term overbought, over-extended, and due for a pullback.
As long as worries regarding Greece, Iran, and China don't resurface then the path of least resistance for U.S. stocks should be higher. Unfortunately, there is no guarantee that these three issues won't return to the headlines.
I am not adding any new trades tonight.
Last week our watch list was successful with both GD and HSIC graduating to the active play list. Tonight I've added CVS and LGF as new watch list candidates.
I've also 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:
XON, BAC, WFC, MS, AMBA, DHR, EXPE, WFM, RAI, MSFT,