And despite the fact that today's sell-off is mild in nature, it is still the biggest we've seen in a month. Apparently the 24th of the month is starting to trend negative (don't take that serious!).
However, with today's sell-off, I'm hopeful that it will provide more opportunities to buy the dip.
From my bullish watch-list below pay the most attention to Deckers Outdoor (DECK) where it is consolidating the most recent runup's highs. There seems to be a strong interest in buying practically every intraday-dip this stock takes. If it can clear $58.25 or so, it could make a nice run to $60 with little effort.
Cabot Oil & Gas (COG) recently broke out of recent consolidation and this week has spent its time pulling back to the breakout level. There is a lot of strength in this stock at the 10,20 & 50-day moving averages which have all nicely converged close together.
Another Bull-Flag to watch (great for managing risk on a trade) and that is McKesson (MCK) which is near its highs as well. Should this stock break above 119.56, then make sure to put your stop-loss at 117.40.
Beyond that, the rest of the list as well looks fairly solid, the ones mentioned above just happen to be may favorites.
Here's the rest of my watch-list:
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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