Wednesday, April 4, 2007

My Trade Candidates for 4/5/2007

One of the things that bugs me about trading is when I think a setup looks nice, I enter, then immediately get stopped out. That was the scenario today on ABAX; however, I still think it potentially looks good on strength above today's high. There may also still be hope on SONS (I'm still long) but the pressure on yesterday's gap up isn't making me feel good about it. We'll see. There was no entry on ADLR but I still like it so it's on today's setup sheet also. The weekly chart is in a downtrend however, so tread carefully.

I really like the RMBS chart (in fact I traded it today and exited) and if it can get going above today's highs it appears to me it could potentially put in a good run. ITRI has potential I think, but it's going to have to convince me.

I won't be surprised if tomorrow is traded defensively by most traders given the holiday on Friday and the employment report that comes out that day. So, whatever I do I will be careful as the follow through may not be there.


Anonymous said...

I had a stop buy on SONS at $8.31 but luckily canceled the order when I saw too many sellers at $8.27 and up. I watched it for most of the day and saw probably 3 to 2 sellers to buyers.

StockRake said...

I've added you to my link list. We seem to find some of the same stocks. I like your call on ADLR.

Bullish on the daily and screaming off the bottom with room to run on the weekly.