The market finished flat after moving down almost 100 points at the open. The buyers are coming in on every sell off. That is bullish. However, the buying does seem to die off when the market gets back to even. There are a few bullish trades that I can recommend. I've been bearish on AMZN...but with today's move back above its 10 day MA, it looks like it could move up to at least $161. KR could make a larger move up, but the shorter term target is around $22.60. I like the bearish pick on the Virtual Investing Club website for NSC. A lot will depend on how CSX trades tomorrow following a decent earnings report. If NSC stays below $61.50, it could end up moving down as far as $50. A shorter term target would be about $57 to $58. I also like SLG as a bearish pick. This is a counter trend trade, but I like the reward to risk. You would want to stop out if the stock moves above $68. The downside potential is around $50...ultimately. The nearer term targets would be around $64 and $56.
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