The day started of a little choppy early on, but then the market took off and closed near the highs, and took some stocks from the Watchlist with it. The S&P 500, which was sitting above support, bounced higher and looks like it could be heading for the 200-Day MA, just like the NASDAQ did.
There were some triggers from the Watchlist, and some made nice moves. Let’s look at those:
NTAP made the biggest move from the buy point, and still looks good here.
CTR followed and also looks great here.
EVVV made a modest move, but is looking good.
LCAPA barely triggered. I am hoping for some continuation tomorrow to sell into.
NTES gapped up above the buy point, then pulled back. When a stock gaps up above the buy point, I avoid this, and look to get in after a pullback. This pulled back, but never showed strength.
There was continuation on Fridays trigger as well, AMCC:
In fact, some recent triggers did well today. Some of these I am still holding, others I wish I was:
This one I added to the Watchlist on 5/18/09, but then removed it after it failed to breakout. I should have left it on,it made a monster move today.
I have a lot of stocks that look good for tomorrow. Eventually, we are going to correct, but many stocks have been consolidating and considering it is end of month, we could see some more action this week.
I am taking partial profits on most stocks that I’m longer than 1 day.
Good luck and good trading!
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