Wednesday, April 30, 2014

The Top Five Stocks I Am Watching Right Now

Although the S&P and Dow might say otherwise, the market has been in a downtrend/correction for almost two months now.  For some reason, however, I am a bit more optimistic that we may see a more substantial bounce attempt soon by the lagging Nasdaq and Russell 2000.  I like the fact that the Nasdaq has closed well off of its lows the past three sessions and with the S&P and Dow being right near new highs, it's possible a little rush of panic buying and/or short covering could take place if the market can get going.  In no way am I saying that this correction is over or that we are out of the woods, but since markets can turn on a dime, I have tried to focus my watchlist on a few names that would be in play if the market does indeed rally a bit. 

TSLA still has quite the story to it and has held up better than many other glamour/growth type names during this correction (FEYE, SPLK, YELP, etc). 

VIPS has held up better as well and has great fundamentals.  It doesn't seem to me like too many people were dumping these two names left and right like it does with some others. 

Energy has been a sector that money seems to be rotating into right now and TPLM has good fundamentals and a chart that is attractive.  

Biotech was getting destroyed as of three weeks ago but SLXP has held up well and appears ready to perhaps break out of the base it has formed.  Good fundamentals too.

Solar was hot throughout 2013 but has pulled back like many growth/tech sectors over the past few months.  SPWR however has outperformed most names in the group and looks like it might be ready to move out of a long base.  

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