Monday, April 2, 2007

My Trade Candidates for 4/3/2007

Here are a few setups for Tuesday. I actually had all three of these longs on my watch lists today, and did trade GIGM (still long a partial position). I have a pile of stocks like this that are potential trades but they will need to set up correctly in order to have the right risk:reward relationship. I tried to provide a few here that seem simple enough to anticipate an entry. I think ALL is setting up for a nice short, but it is listed so be careful, and see my comment on the markets below - trading short might not be the thing to do if the markets can get moving upward.

Since the markets can't seem to break down and it looks as though we may be consolidating under the 50dma's in the Q's and SPY, I'll be watching carefully for a break above the recent highs - particularly around 43.85 or so in the Q's. If we can break that level with some conviction, I'll be getting long for a ride up to 45.00 or so.

Have a great Tuesday!

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