The Indices Are Rolling
The indices have been holding up well, we can talk about how 1-month and 3-month new lows are expanding, but that’s all irrelevant until we start seeing some price deterioration on the actual indices.
$CAI, $PI, $COOL, $SCSS, $DY, $MSG, $CCCR are the stocks on my trading watchlist today.
I have an interest in these stocks on the long side if and only if they go through yesterday’s high plus .10-cents. This single criterion will narrow down the list and get you involved only in the stocks that are on the move. The primary drivers of stocks in the short term is momentum and mean reversion. Stocks that have a significant move in the short term tend to rest and move sideways for a few days and then resume higher more often than not. These momentum bursts typically last 1-10 days and can produce gains of 5-20%.
Frank Zorrilla, Registered Advisor In New York. If you need a second opinion, suggestions, and or feedback in regards to the market feel free to reach me at firstname.lastname@example.org or 646-480-7463.
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