Sunday, June 12, 2011

New Setups To Watch This Week























Here's the list of stocks i'll be watching next week. Some longs and shorts. Going into this week, we are gonna need to be very nimble once again. We are very oversold on many measures such as the Mcclellan Oscilator (NYMO) and the Put/call ratios (CPCE). NOTE: in strong bearish trends, (like the one we are seeing now), these OVERSOLD/OVERBOUGHT indicators can get you into trouble if you use them as stand alone indicators. "Oversold" can certainly become much more oversold before a big bounce materializes.

Be very cautious when using NYMO or CPCE in a strong bearish phase. So use them in conjunction with other tools/signals.

Overall, i highly recommend still being very nimble and being able to enter and exit shorts and/or longs quickly. Not the time to look for home runs that for sure. Hit and run trading environment. Be very selective. Set the alerts, once a stock setup triggers, demand only the best setups that work best for that particular market condition.

Trade em well!




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