(September 8th, 2012)
You've probably heard it a dozen times by now. The stock market rallied on the ECB's new plan to buy bonds from its troubled Eurozone members. There are a lot of challenges to this new approach but the market doesn't care at the moment.
We are bullish with the major indices breaking out to new multi-year highs but there are still a lot of potential potholes in the market's way. I urge investors to stay cautious and not get overly confident.
I'm not adding any new trades tonight. We just had three watch list candidates (EMN, SCHW, and SPRD) jump to the play list. Plus, it looks like CVX and WFC are about to join the play list soon.
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:
OPEN, BRCM, EXPE, GD, CCJ, FBHS, T, RCL, PHM, RYL, RL, PAYX, CLB, OSK, RHT, SLV, ADP, JJC, BTU, ANR, CMP,