Long Setups Take Patience In This Market

long-watch-listIf you’ve followed me for any length of time, you know by now, I don’t go chasing after high-flying stocks. Too much risk, and too little reward to profit consistently off of that strategy. What I do like are Initial breakouts without a huge run-up, consolidating patterns, and breakout-to-pullback plays. Those are some of my favorite right there. 

A lot of my stocks on the long watch-list have rallied hard in recent weeks, and there’s no way I’m going to buy them, but what I will do is wait for the pullback to a solid support level before I considering going long on them. 

Another option out there in this market right now, is to wait for some of these down trodden stocks, that haven’t done much in this market to start creating an appealing trade opportunity. One such stock on my list for that is JC Penny (JCP) which looks to put in yet another higher-low and attempt a move to higher ground. 

Some individual stocks to consider

Gentex Corp (GNTX) is a beauty as well, and will do a separate post on that one later. One that I could be tempted to buy tomorrow or in the coming days is Angie’s List (ANGI) with its appealing cup and handle like price action. 

 

 

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