Sunday, May 19, 2013

Having A Plethora of Setups Always Worries Me

Had a ton of setups in my scans this weekend - too many really.  This happens from time to time, and it always is a bit worrisome.  Many times, when I have too many setups to choose from, I either inevitably choose the wrong one (or two or three) or the market throws a curveball and takes a dump for a few days.  I have no clue if that curveball is coming, but the market keeps chugging along in a very calm, tight manner upward.  

This two week move that started at the beginning of May has been a little too calm in my opinion and I continue to expect a shakeout to occur, but it hasn't yet and perhaps won't ever happen.  We'll have to see, but overall I continue to try to take setups as they trigger and as my work schedule and circumstances allow, and hopefully the inordinate amount of interesting charts this weekend isn't a contrarian warning sign. 

Since I have so many, I am just putting a small chart of each below and perhaps you can find a few names that pique your interest or were not yet on your watchlist for the week ahead.  Some of these do need a few more days to setup so I am not necessarily focusing on them tomorrow - the solars in the list below jump to mind.   Some of these are simply viewed as potential intraday poppers that if I get lucky, I could make a quick 5-7% with and then get out.   Many however have consolidated nicely and could be decent swing trades assuming the market keeps slowly and smoothly working its way higher. 

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

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