Momentum Trader Report: 05/13/08

The market had a whippy, mixed day today. The Dow finished lower on heavier volume, making it a distribution day for the Dow. The S&P basically closed flat, while the Nasdaq did well in the close. Oil rallied again today, which meant energy stocks did very well.

It was actually a very good day for the Watchlist, although it didn’t look like it early on, when a couple of stocks took some heat after triggering. I have seen many gloomy mornings turn into sunny afternoons, so I left my stops alone, and saw these stocks turn around later in the day. Let’s look at the triggers from the Watchlist:

CNX had the biggest day today, as energy stocks performed strongly today.

WLT was the second best perfomer. I mentioned this would be a good day trade, but its actually still looking good here.

I didn’t post a chart of GDI last night, but it was in the Watchlist, and I had the chart here on Sunday night. It broke out early and finished strong.

KSU also triggered today.

Yesterdays trigger, FLS, put in a nice follow through day.

BZP is another recent pick that put in some nice gains today.

I meant to post this yesterday. A recent trigger from earlier this month has continued to do well. It looks like it could pull back a bit after todays action.

Trade Ideas for 05/14/08:

Good luck and good trading!