Editor's Note:

No new trades tonight. The market looks short-term overbought and due for some profit taking or at least a little sideways consolidation. Some of the stocks on my watch list tonight are ADSK, Citigroup (C), MO, and SAI. On ADSK a move past resistance at $44.50 might be an entry point. For Citigroup a rally past the $4.50 or $4.60 levels could be a bullish entry point following its recent sideways consolidation. MO looks short-term overbought given the big bounce from its March lows but a rally past $26.25 would be a new all-time high. I was tempted to add SAI as a bullish candidate tonight but readers may want to wait for a dip near $17.00 before considering new bullish positions.

- James