Saturday, January 28, 2012

Saturday Morning Stock Setups for Next Week

Here are the top setups I see going into next week.   I will share others that need a bit of work tomorrow in video form as well as look at the overall markets.  Basically, the beat goes on for this rally, as Friday turned into another bullish day where support held and stocks finished well off of their lows.  I have no idea how long this rally lasts - at some point we will have a pullback or small correction - but I plan on just riding it as long as it wants me to do so. 

I will say that I did hit some extreme numbers in my scans again on Friday that gives me a little pause here in terms of starting new positions.  However, I already have six positions and that is usually as many as I want to manage at one time anyway.   If we are up again big on Monday, I will likely take some profits on positions, but as I said Thursday night (and have painfully learned this year in a few cases) patience is a virtue that is sometimes a must as a swing trader.  Everytime we've hit extreme numbers over the past week or two, the market has had a relatively calm day that has allowed those number to dip to non-extreme levels.   Hopefully that can happen again and we can avoid a big 3-5% shakeout. 

Hopefully you benefited this past week from all of the setups shared - starting from last weekend, there were some big-time movers and big-time profit opportunities.

According to ThinkorSwim, none of the charts below report earnings this week, but as always, I will be watching the after-hours session for potential movers this week as many smaller-caps will start reporting now.   TPX was a good earnings play for me this week, but I stupidly passed on NFLX and ELX after-hours and both would have produced at least 10% gains.   Hope the setups below help you next week.   If these setups have helped you at all, please take a few moments to review my site here or twitter feed here.  See you Sunday.

All Charts from TC2000, Courtesy of Worden Brothers, Inc.

1 comment:

Anonymous said...

Yeah, this is been one big party lately - I think may be 70-80% of my trades work - never happened to me before.
Congrats on your big winners this week.