The market fought back against bad early action on Thursday and Friday, just like last week. That’s one of the few positives in this very negative market. The indexes are consolidating here, while volatility is returning. We could see some larger swings this week.

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Meanwhile, there was one pick that triggered from last weeks picks that made a nice move on Thursday and Friday.

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Although this chart still looks very good, I sold most of my position on Friday.

There was another stock that traded above the entry point from last week, but it gapped up huge. It did continue moving higher though before pulling back, offering a nice day trade for anyone watching it.

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Still only looking to hold new trades for a day or two and only watching the best charts I can find.

Trade Ideas for 01/26/09:

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Good luck and good trading!