Last week I named several nuggets for consideration, and the ones that were ripened consolidations did very nicely.
This week there are a few more to look at.
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Last week I also showcased the new tools in our options area, including the Strategy Builder and Recognizer gadget, which is an excellent learning device, as well as something that will help you prevent mistakes. And then there’s the new Trading Toolkit which will be like our very on trading terminal, simplifying our entire way of doing things for a slicker more user-friendly experience.
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Just four weeks left until the Miami Bootcamp. I’ll actually be over there from April 18th. Tomorrow I’m having a procedure on my pesky frozen shoulder that has been bugging me for the past 2-3 months. Hopefully that will accelerate the recovery, otherwise it’s a long old road for that particular affliction.
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Current Market Behavior:
The longer term slower market timer – my OVIsi – is still negative but very marginal, so I’m not letting it affect my shorter time horizons.
As with last week, my medium term SPY Swing Timer is positive and not overbought, while the short term timer’s latest bullish signals have been on the money.
Again, please do not simply follow the arrow signals blindly.
The S&P 500 breached its 200-dma to the upside and has held it.
While I remained cautious last week, the vast majority of my attention was on the short term bullish side, avoiding overbought issues.
Market Outlook:
Short term still looks pretty good, with plenty of bullish consolidations about. Things could change quickly though, so let’s not take anything for granted.
Stock Selection:
A few nuggets today, plenty of learning examples, and our selections from last week did very well.
Application:
Like last week, I had to run a number of Fast Filters to find what I like. This week I’ve also included a few higher risk potential short squeezers to consider.
Software Upgrades
I’ll show you more next week!
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Remember, you can play the video at 1.25x or 1.5x speed if you want to save time! I have placed all the stocks covered in today’s review in your “Latest Preview” watch list.