The U.S. markets did not make a lot of progress following Tuesday's rally on January 3rd. Fortunately the major averages look like they want to trade higher. What concerns me is that January tends to have a correction on the latter half of the month. This might be due to profit taking as investors react to Q4 earnings announcements.
I am cautiously optimistic here but we are expecting a market pull back. Thus I am not adding any new active trades tonight. This past week we had three stocks graduate from our watch list to our active trade list and we just added three new watch list candidates tonight.
In addition to our new watch list stocks I am putting JPM, NWSA, MAKO and BRK.B on my radar screen as possible bullish LEAPS candidates.
If you are willing to trade stocks that don't have LEAPS then put AVY, IMOS, and KRA on your radar screen. I don't think these stocks are buys yet but they could be worth watching.