I always keep an active long and short watch-list and I add and subtract from it each day. I think it is an absolutely essential element to successful trading and reviewing those names which are on the list regularly.
To the right I have posted my watch-list heading into next week, and there are already a few of them that I am already long in such as Tata Motors (TTM) at $25.50, Groupon (GRPN) at $4.88, and Wynn Resorts (WYNN) at $115.42. I'd expect anywhere from 3-4 more long positions to be taken from this list and added to my portfolio next week as well.
You can track my watch-list live on my SharePlanner Pro trading platfrom as well.
Overall, i think the market has made a nice recovery off of the morning lows, and simply could not hold the gap-down early on, as it seems to do quite a bit of lately.
I hope you all had a great week, a fabulous month and even better quarter of trading.
Come Monday, lets start what will be the beginning of the end for 2012!
Ryan (@shareplanner) specializes in swing trading strategies and is the founder of SharePlanner which he created to help and teach others on how to trade stocks better using multiple approaches and time frames. Each day you can count on Ryan to provide his trading advice as well as transparency in every trade that he makes. Ryan Mallory resides in Central Florida. More >>
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