Hello again everyone. For this week I believe that the Nasdaq will chop with an upward bent. Nothing spectacular like last week, the technicals are in medium overbought territory, but there is still room for some upward movement.
I am also seeing some possible stagnation in regards to the upward movement with another tiny blowoff coming in about a week and a half.
So with this in mind, we are going to do the 2 weeks out stock earnings climb system. I have identified the 4 stocks above that have crazy good analyst expectations and decent surprise pops for the last 4 earnings quarters. If the market cooperates in the next week, 2-3 out of 4 of these are good candidate for climbers. Tomorrow I am going to analyze the price action of these four stocks and go for a recommendation.
In the meantime, it looks like Foward Air, my previous pick, is consolidating for another coiled spring, and I expect the spring to blow upwards. We are in screw it territory with the MMM options, at this point this is one pick that went completely sideways and we are scouting for an out: maybe some bad news, perhaps some profit taking, maybe a downgrade. So we keep our eyes peeled for tomorrow and see how the market is going to go.
What would be great is if the market had a down day tomorrow which would cheapen the in price for one of the 4 stocks on our watch list...that would lead to more profit on any bounceback climb that is on the way.
So everyone, tune in tomorrow to see what Im going to do. In the meantime, I am working on my next how to trade article, look out for for that in the next day or two. I am pretty busy with some appointments tomorrow, I will give my full attention to this blog starting Tuesday. Of course, watch for my pick.
Keep Trading (safely)
Mark
Monday, October 27, 2014
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» Outlook for week and watch list for 10/27
Outlook for week and watch list for 10/27
6:28 PM
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