32 Reasons Why I think We Go Higher

The SP500 logged its 5 consecutive down day yesterday, the first time it has happened this year.  But if you look underneath the surface we haven’t had any sort of distribution, stocks did not break down.  As a matter of fact this 5 day pull back has allowed many stocks to set up properly for a potential leg higher.  I have 32 names on my watch list today and I’m excited for a majority of them if they trigger, if you’ve been reading my recent blog posts you will know that I have not been terribly excited about my lists recently.  But today is different.  This might be a situation where you might have so many good set ups that trigger that you just don’t have enough money to buy them all.  When I come across this situation I prioritize the list by float (the smaller the better) and by which sector is hot, in this case its the Chinese stocks.  Other times I might just take an oversize position in the $TNA to make my life easier.

Some of the standouts from yesterday’s list; $CCIH +12.92%, $SSNI +9.42%, $SINA +3.90%, $MODN +3.47%.

These are what I consider very tight set ups that will trigger if they break yesterday’s high.  On a regular trading day I would indiscriminately take every trigger because you just don’t know which one will be the big winner, you might have an idea but in the end you don’t know.




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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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