Some of the stocks that you'll see in my watch-list look as if they haven't taken a breather in months, and that may very well be true, but don't take it as a notion on my behalf that I have plans on chasing these stocks. To the contrary, I want some of them to pullback to key support levels before I jump on to the long side of them.
I've hopped in a couple of these stocks earlier today, the first being Smith and Wesson Holding (SWHC) where I got in at 8.66 and later on I jumped into DaVita HealthCare Partners (DVA).
A part of being a trader is that you cannot have convictions that feel must be held on to at all costs. I thought we would see more than just a two day pullback, but that was simply just not in the cards. As a result, it is imperative as traders we are nimble and able to adjust to ever-changing market conditions or be left behind. .