Thursday, May 9, 2013

Some Pullback Plays Setting Up Here

The market is still extended a bit here, with today's lower close being the first in five sessions for the Nasdaq, but I saw quite a few nice consolidations in individual stocks tonight in the scans.  Many of these have pulled back into previous breakout/support areas that provide low-risk entry points in most cases.  I am still somewhat scared of breakout buying too as I have had no luck with it throughout this year, so perhaps buying some pullbacks will give me better luck.

ACAD
ANGI
CSIQ
CZR
ECYT
 INSM
RPXC
YELP

A few other setups that I found interesting are below, though none are "pullbacks.

NFLX
TASR
LOCK
All Charts from TC2000, Courtesy of Worden Brothers, Inc.

One nice thing about all of the above charts is that according to my ThinkorSwim data, none have earnings in the upcoming week or two.   One less thing to worry about.   Good luck.

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