Momentum Trader Report: 02/02/10

The market continued its bounce, and on heavier volume.

The NASDAQ looks like it could be forming a bear flag, but even if it does, it still has some room to move higher.

My fear of the market has cost me.  Some stocks I had been in and out quickly continue to move.

The market could still move higher from being oversold. I am very cautious here until the indexes recapture the 50-Day MA. Until then, I am a bit bearish, but there are still some good looking long setups out there. I will be watching them.

Trade Ideas for 02/03/10:

Good luck and good trading!