The market remains overbought. It's been that way for days and honestly I'm not sure what is going to make it change. Tomorrow could see some volatility thanks to option expiration but I doubt it. We have two weeks left before the quarter ends and rally could continue as money managers do some window dressing. At the same time investors are nervous that China could tighten their monetary policy again and that the situation with Greece is not improving fast enough. The market could get taken hostage by overseas headlines.
I'm not adding any new plays tonight. This is a small watch list of stocks that caught my eye.
EBAY - Shares of EBAY have been screaming higher. Since March 1st it looks like EBAY has been up every day but two. Eventually this is going to correct. I'd put it on your watch list for an entry point to buy a significant dip.
F - Ford has been a big winner this month. Unfortunately today's action looks like a short-term top. I would expect some profit taking. A dip near $12.00 or its 50-dma might be a new bullish entry point.
VRTX - The stock is reversing at resistance near $44.00. This could be a bearish double-top pattern. If you do launch bearish positions I would look for support near $38.00 or its 200-dma.
WMT - The stock doesn't move very fast but it's worth checking out. Shares just broke out from a three-month consolidation phase this past week. I'd consider buying a dip near the $54 region but you'll need patience. This would be a long-term hold.