Monday, December 14, 2009

Momentum Watchlist for Tomorrow

The Russell 2000 outperforming yet again today (and breaking slightly over some resistance) gives me a bit of hope that we can break out to the upside of this range soon. I still think we need a catalyst, but we'll see. Right now, if the dollar happens to sell off, commodities are still very oversold, which would give some steam to the overall market as they bounce. As of now, my game plan is to keep my eye on some momentum-type plays that may work well for a short period of time just in case the market can breakout. Here's a list to watch:

Strong Today: CAGC, MEA, XTEX

Pullback/Consolidation Mode: NANO, SEED, NLST, CAAS, VISN, CGA, SFLY, FIRE, SWI, IFON, CHLN, CTFO, TTM, LNY

Beaten Down and Ready to Bounce (perhaps): EBIX, CBAK, FUQI

Good luck tomorrow!

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