Oil hit another all time high today and sent many oil and energy stocks with it. Although these oil stocks were on fire, the market was looking rather bleak in the morning, and then…rallied?? The market simply shrugged of the bad news from the morning and closed the day significantly higher.

There were two stocks from the Watchlist that triggered today. The best performer was FDG, which made a substantial move in the morning and held on all day.

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The other was ANW. It broke out, offering an opportunity for profit for day trading, but then made a sizable pullback. I got stopped out of this one.

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Today saw some picks from this month add to their gains. For example, NOG made another substantial move today. It’s currently up over 10% from yesterdays buy point!

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GNK also continued moving today, and it up nearly 9% from last Fridays buy point.

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I didn’t have this stock here last night, although it’s been one that I have posted here before, and that’s CLF. Take a look at the move it made today.

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Take a look at this past pick and the sick move it has made. This was a trade I passed on.

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Trade Ideas for 05/07/08:

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Good luck and good trading!