Stock Picks and Trade Ideas for Wednesday
New Buy Candidates: KRO, LRT, MPET, MRB, NOG, PPO (previously mentioned)
New Short Sale Candidates: CMED, DECK, MTW, MXB, SMA, STT
Add To: CMED (short), DECK (short), GTE, HDSN, IDRA, NOG, SMA (short), SNT
Cover: RBCN (partial)
Note: CMED is a good initial short. If you are already short CMED, now is a good time to also add to that short position. Again the same goes for DECK and SMA as well. If you still have NOG, hold onto it and add on a dip. If you don't own it, wait for a dip before pursuing.
posted by Nick M. @ 11:45 PM
3 Comments:
Yikes! Look at the VIX. Look at all the energy/ag. related stocks making new highs on low volume. There is no fear in this market and there is no institutional support. Institutions are just setting themselves up for the big dump. And who's going to catch it? The retail crowd that keeps bidding everything up.
Other stocks are putting in new highs on record volume as well. I would be wary of this as well since it is a topping out signal.
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