Stock Watch-List for November 24, 2009

It’s pretty quiet out there this morning, traders, one-by-one, are tapering off to get an early start to the Thanksgiving holiday coming up here. Overnight though, China saw some pretty significant selling take place, with losses in the range of 1% and more due to the Chinese government cautioning the banks to take on better lending practices. European markets on the other hand saw a hard sell-off initially, but has recovered most of those losses and are barely treading red currently. The US Futures are trying to build on yesterday’s gains by showing a little bit strength in the early going. Right now, the Dow is up 12 points, the Nasdaq is up 1 point, and the S&P is up 2.5 points.

On the economic front we’ll have lots to sort through, we have the Goldman Store Sales coming out at 7:45am EST this morning, GDP at 8:30, S&P Case-Shiller Home Pricing Index (9:00), and finally the Consumer Confidence at 10:00. So from a news standpoint there should be plenty to keep us busy and the market for that reason.

Yesterday, I went long BBBY (on yesterday’s Christmas screener) @ $38/share so I am slightly in the at the moment. I have a stop at 36.49.The stock is looking pretty good from my vantage point, with a nice cup & handle pattern providing a solid entry to the long side. Also, I am still long Apple (AAPL) and PetMed Express (PETS).

Here are Today’s Trade Setups… 

Bullish Candle Setups: EBIX, PTNR

Bearish Candle Setups: CMP, NAT, TYC, ACN, OGXI (very nice setup), TNP, SB

Stocks Ready to Bounce: JEC, SWS, TLB, NBR, MUR, ACE, DLX, ERX, SIVB, MR

Stocks Ready to Pullback: MRK, TNP, RURL

Breakout Stocks: VZ, NTRI, ESRX, FMER, POL, AEA,

Breakdown Stocks: HSY, CENTA, JEF