- New Trades -
(June 16, 2013)
Volatility spiked last week as stocks churned sideways in choppy trading. Investors are nervous about what the Federal Reserve might say about the future of its QE3 program. If you step back from the day to day gyrations the market has been consolidating sideways, although it has been with a short-term bearish trend of lower highs. On a positive note the U.S. markets managed to ignore the latest market plunge in Japan.
This week could be pivotal as the Fed either soothes investor fears or fuels them. Market direction will likely depend on the FOMC statement and Bernanke's press conference on Wednesday afternoon. With the potential for significant volatility this week I am not adding any new trades tonight. However, I did add three new candidates to the watch list. Plus, I've added a few more stocks to my radar screen.
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:
PHM, RYL, KBH, KSU, WSM, ORLY, KR, SNDK, SYK, APA, XOM, HAL, TJX, JDSU, MSFT,
DNKN, FRX, WHR, CBI, BA, NOC, LLL, RTN, M, PNRA, SBUX, GRPN, CY, NKE, UA, WFR, GS, ODFL, JNJ, BIDU, HD, TM, AXP, AMZN, GOOG,