The market continues to climb a never-ending wall of worry. Yesterday we were blessed with a historical stat that states, when January and February are up the rest of the year, is positive, and it has been positive 14 out of the last 16 occurrences. You can pack your bags now and buy the $SPY and call it a year ( I kid). And if you want to outperform the SPY this year then just buy the $SSO.
We also have countless mentions of how the $VIX will stay low, and this is the new normal. I believe that markets go up and down not up or down and these stats are more relevant to me when the market is down.
I have a few names on my watch-list today that look interesting.
Here’s the list;
We have an interest in these stocks if and only if they can get through yesterday’s high plus .10-cents, that is typically where out buy stops will be. This single criterion will narrow down your list to a handful of names unless of course, the market is super strong. You can also narrow down the list by float, price, sector, preference, etc.
These ideas are what we consider swing trades that can last anywhere from 1-10 days. Most stocks if not all go through momentum burst that lasts 1-10 days, that momentum burst is what we look to take advantage of.