Thursday, January 2, 2014

A Rough Start for the Overall Market, But a Great Start for Individual Stocks

We saw a very interesting day today on Wall Street.  The overall market saw some distribution, which was not unexpected given the start of the new year and the run the market had in 2013.  What was a bit odd was the number of individual stocks that didn't seem to care that that market was having a rough time and just went up anyway, some a big amount.   Solars in particular were very strong but there was action in a lot of names that has me holding some long positions here.  I have two short positions on as well right now, not necessarily as hedges but as positions that I think can make money based on their charts.   I saw some decent setups in my scans tonight as well so I am not as bearish as you might expect given the overall market action today. 

Here are some names that might be in play tomorrow.   I shared a lot of names that worked very well this weekend (PLUG, VJET, SCTY, ANV, FENG among others) and on Twitter today so hopefully you were able to catch some.   We'll see what tomorrow brings. 

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

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