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The market continues to coil along sideways, so we’ll stay with the long side until things change. I’ve updated the P&L and tightened stops, so if your are following the names please check the stops.
I have two new stocks that I will be looking to enter, perhaps as early as tomorrow. I will add more names that are setting up as soon as I get a feel how the market wants to behave early in the week. The two charts below are new names, but you can also look at the following names on the P&L as they are still attractive: AIG MYL PIR POL SRPT SHLD and FNSR
INFI– As you can see this stock spent the last three days of last week holding the 50 day moving average (red line). My buy trigger is the 35.60 level. Stop is just below the 30 day moving average.
NTAP – saw decent volume last week and looked like it was trying to make a move on Friday. My buy trigger is around the 36.80 level.
USG may be working a smaller cup and handle pattern on the daily chart, but at the very least a mini bull flag. My buy trigger is the 31 area.
