Watch Out for Short Term Weakness

We received our bounce and now it's time to possibly cash in on our short term gains. It feels rushed, but that's how it is. It is important to be on the right side of the market when the tide turns. So for now, the best strategy is to sit on the side lines in mostly cash, waiting to see what happens. I was expecting a decent rate increase, but the fed seems to chicken out easily. Without interest rate raises, the market will not be able to sustain itself over the long run. Markets tend to "celebrate" falling or super-low interest rates with positive action, but in the long run, the low rate environment does more damage than good for the stock market. For now, I have been gathering a list of potential short candidates and a few long candidates.

Potential Shorts: CSIQ, DGIT, ES, FSLR, KNOT, MMSI, SLXP, TLVT, UEIC

Longs: SPMD...I will add more longs over the weekend...

Top Stocks for the Next Few Weeks

Top Stocks: APKT, APPA, ATHX, AUTC, BELM, BLGW, CAGC, CGX, CNXT, CPE, CVVT, DJSP, FSII, IKAN, KTCC, LMLP, NEP, PNCL, PSID, QUIK, RISK, RNN, SHE, WWIN

other good stocks: ACFN, BTIM, CNGL, CYTX, DNDN, FNDT, GSIC, HGR, ISR, KAR, LPSN, NEWP, ONP, PLXT, PWER, QMM, SGI, SLRC, YUII

Follow Through?

It looks like it on paper, but I don't see any high quality setups...best to wait for more of a confirmation before becoming super-bullish....

Imminent Bounce

Friday's late day save is hinting towards a short term bounce. It may be powerful enough to keep the uptrend going, but it is unknown for how long. The last few weeks did their part to shake short term traders and investors out of their positions and now, dip buyers have stepped in to pick up the mess that was left in the wake of the destruction. Unfortunately there are very few stocks left that are worth buying, but that may change depending on this weeks action. For now, I believe APPA was a good buy. CNLG looked like a good buy but it turned out to be a dud that cost me a lousy 19% loss. I held on for too long hoping for a bounce which never came. Another stock that I remain positive on is SPU, even though it is down from my initial buy. Even HPJ and ONP may give us decent bounces. Still, I will be on the lookout for fresh breakouts with promising catalysts. These new stocks which may breakout will be the next leaders in the upcoming uptrend. These will be the stocks that will have a high probability of giving us handsome returns.

New Trades

New Buys: APPA (in at 1.58)

Top Stocks for Today

Top Stocks: CNLG, ISSI, SBGI

New Buys: CNLG (in at 3.79, posted on StockRaider, my twitter page for day trading), ISSI (in at 6.29), SBGI (in at 5.51)

Update: CNLG sold for a loss...failed trade