OPPORTUNITIES?

The reversal day yesterday and the strong move today have given the bulls some hope that they can get back control of the market. I'd like the S&P 500 to get back up above 1345 before I get too bullish. Many of you have been stopped out of trades during this last week or two...me included. That is part of trading. Hopefully you were smart enough to use good money management so that it didn't hurt you too bad. If you have had a large draw down in your account, you will want to be more patient right now. Sit on the sidelines and wait until the market shows a clearer trend. For those that can still afford to take on some risk, I have a few patterns that I like. I would wait until the last half hour of the market tomorrow to enter these trades. This would give you confirmation on the strength of the bulls and likely get the S&P 500 above that 1345 level. The patterns I like are UNP (I'll thank Kathy S. for that one), NFLX, LULU, COG, and KO. There are several that are good candidates as long as they can close above their 10 day MA. Remember, it is important to wait for that confirmation. These stocks include: APKT, IBM (I'd like IBM to close above $171), ISRG, WYNN, CNI, LAD, and ALTR. That should be good for now. If the market sells off tomorrow, sit back and wait. The VIX moved down pretty strong today. That is a good sign for the bulls. We'll see if today's move jump starts a new bullish trend. Be careful though!!! I thought the same thing last week.