Ideally, I would have preferred to of opened lower this morning and then rallied hard off the lows.
But such was not the case as the market has been rallying since the futures opened up last night.
I came into the day 100% cash.
My goal was to get long, fast. I did that. But I didn’t go after the high volatility stocks, instead I sought after the stocks that couldn’t go up unless they were rallying too. I don’t need small caps in my portfolio when the market is this oversold. That’s because the large caps have plenty of room to run with this market should the bounce continue. I view the small caps, at this juncture, as unnecessary risk and unnecessary volatility.
Below I have put together my list of bounce candidates for this week. Most of them you’ll find that they are sitting on some key support, and considering today’s price action, they are already starting the bounce for themselves.
Take a look at them, and figure out for yourselves which ones can work. There are tons of ideas and opportunities in the list below.