Our watch list from last night did quite well on Thursday showing us that we not only had the major indices performing strongly but the leading names participating as well. When this occurs it shows us the market has healthy internals and we have firmer ground to trade off of.
These positives aside, let’s not forget how dangerous earnings season can be. We are still seeing many stocks blow up like AKAM (which stopped us out of 2 nice trades near breakeven) and DECK in the aftermarket which is down 17%.
New Setups
We would look to buy the following stocks on a move to or above the following levels. These are all very high risk trades so only trade them with the realization that you may get whipsawed around and stopped out. We are still walking on risky ground as we see some stocks gapping up 15% and others gapping down 15%. For longer term traders these are also decent accumulation levels but watch to make sure they hold there 50 day moving average levels and be careful around earnings.
SHFL 17.42
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WATCH LIST
Here is the watch list from last night. These are a list of the strongest stocks that have survived this last market correction and are still holding their up trends. This service has open positions in many of these names and we will continue to accumulate at the right levels. We will point out the high probability setups in these names and others when they are properly setup for swing trades. We have many more to add and should see some great setups next week if this market holds
LNKD
PCLN
AMED
LVS
ZUMZ
AGU
CSTR
RDWR
ISRG
PAY
NTES
CMG
SBUX
LULU
TJX
DNKN
ROST
SHW
PPS
HLF
VRSN
CELG
TSCO
AAP
AZO
MNST
ABV
SAVE
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