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Hi Guys and Gals,
Several of you have asked me to continue to post my hit list for the
next day so I do so when I get a chance. Three of the four shorts I
posted Tuesday night for Wednesday were extremely profitable. The other
was a break-even. Today (Thursday) was an interesting day to trade
stocks. All of the four shorts I posted last night for today were
triggerred and were profitable. One gave you about a fifteen percent
return after the entry point, intraday. Today was clearly a day when the
market, which was oversold in most sectors, continued yesterday's
correction and if you were short you were okay. But noteworthy is that:
1) The market showed boko strength in the late afternoon and
2) For an overall down day, market internals were relatively strong
today..
So for Friday, I am going to be very cautious because we can make a good
case for the bulls and for the bears. If you still want to open a new
position tomorrow, you can consider the following candidates:
for shorts: BJS, FFD, IO, MDT, SNY, TEN, TRL.
and for a long: NU.
I post these reluctantly. You don't get three good trading days in a
row too often. Don't keep your stops too far away from you tomorrow and
don't fight the direction the market wants to take. Remember these
signals require price confirmation as I described in yesterday's post.
Best wishes,
James
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