Wednesday, February 18, 2009

A Few Stocks That I am Watching

After looking at things, I still stick by my thoughts of being uncomfortable shorting the market right here. I know we can head much lower and if we do, it won't surprise me, but there is no doubt we are short-term oversold and I just don't feel comfortable doing it. I need a better risk/reward setup and shorting here may indeed have some reward to it, but fpr sure I know it has a lot of risk. So overall, I am looking for a bounce soon. I don't know if I will play it - perhaps if we are down big tomorrow, I try to play a swing higher. It doesn't make much sense that we would bounce a bit with all that's going on, but maybe that's why it may happen - because it doesn't make sense.

Anyway, here are a few stocks I may look at for various reasons. And if we do get a bounce, I still be watching 802-820 as possible areas to reshort. Some individual stocks that are a bit oversold and sitting near support include DSX, SEA, AGU, MOS, NAV, and POT. I still like the pattern shown on MYRG and it is in a lower risk position right now, so I will watch it. A few recent earnings moves like BWLD have held up well but could use a bit more rest (I would put COO and AKAM in this category). Finally, STAR looks potentially good above the $15 area. Good luck Thursday.

No comments: