This is my watch list going into the open tomorrow. ( 6/13/2011 ) Given the recent sell-off, many of the bears got the bulls against the ropes and are putting a beating on them. truth be told, the tape looks extremely heavy and the consensus seems that its only going to continue. Do me a favor and turn off your TV (CNBC) or your going to miss some trading opportunities to the long side. Yes I said LONG ( a four letter word to the talking heads over the past few weeks), and by long I don’t mean catching a “Falling Knife” long.
In fact everything is not as it always seems. Just as in Rocky IV, when Glover Lang was putting the hurting on Rocky in the final fight, the consensus was the fight was all but over to everyone in attendance…….but as we all know, somebody forgot to tell Rocky! Instead, he was letting his opponent wear himself out, and was just waiting for the opportunity to return “the hurt” back to Glover Lang. “Is that all you got…?”
Same thing, different setting……someone forgot to tell these stocks that the market has been selling off hard lately. The bulls holding these stocks could definitely say….”Bears…IS THAT ALL YOU GOT”
As always they are in order from my favorite.
Note: I get many email request about how I find my setups and although I use Warden ( Stockfinder and TC200o ) to run screens, I have been working to develop a clone of those screens on public sites like FINVIZ. I will be sharing them on the Shareplanner Trader Network in the “Helpful Trading Sites” Group soon.
Disclosure of my current open Positions ( Matt’s Trades) . Currently Long ALB, ONE, CALP, CIM. To see all trades live just JOIN. Its totally free!
