- New Trades -
(August 16, 2015)
The U.S. market still can't seem to make up its mind on which direction it wants to go.
The central bank of China surprised the global markets by devaluing the currency. This fueled fears of a currency war and definitely intensified worries over the health of the Chinese economy. Yet worries over China's currency moves didn't seem to last very long. Investors bought the dip on Wednesday. The S&P 500 remains stuck in the middle of its multi-month trading range.
I am not adding any new trades tonight. We need to be patient and make the market produce an entry point. August and September are typically weak for stock market gains. I suspect the major indices will just churn sideways until the September 17th FOMC meeting. Investors will wait to see if the Fed raises rates or delays the first rate hike in years.
That does not mean there are no opportunities. Tonight I've added two new candidates to the watch list:
DHR and GT .
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. In no particular order:
GIS, CAKE, SYK, LGF, FL, LEN, CRM, CHD, JBLU, MLM,