- New Trades -
(May 11, 2013)
In tonight's market commentary I have turned more bullish on the market. It's hard to fight the up trend when investors don't care about the economic data and only pay attention to the Fed's QE program. On a short-term basis the market is overbought and due for a dip. I am suggesting we use the next dip as an entry point. Search for strong stocks you'd like to trade and look for a dip toward support.
While I am giving up on a market top in the April-May time frame there is still a good chance that stocks could see a short-term pullback soon. Therefore I am not adding any new trades tonight. We are adding two new watch list candidates. Last week we had two watch list candidates graduate to the active play list. I am also adding a few more symbols to my radar screen list 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:
HOG, GS, JPM, KSU, SODA, ODFL, WSM, UNP, RRC, UPS, GRPN, JNJ, ORLY, TSCO, LVS,
CAT, RF, SOHU, NVDA, FSLR, DIS, TGT, PNRA, KMB, CL, SBUX, WFM, CLX, UA, SJM, K, TJX, GLW, COST, DNKN, PAYX, LULU, BHI, CBI, SIRI, EA,