Pre-Market Huddle (Jul 23)

The merciless market grind higher continues. The S&P 500 is trading around yesterday’s highs right now and it looks like today will likely be the day the S&P tags 1700. As I mentioned last night, we may not stop there and this grind can continue beyond 1700.

My trading plan remains the same: I will be looking for the strongest momentum stocks and trying to buy them on pullbacks. I will consider acting on breakouts but only if they are happening from well defined bases and with good volume (e.g. SRPT yesterday).

Here is my current morning watchlist:

  • Solars: CSIQ, RSOL, HSOL
  • Rare Earths: REE, AVL
  • ARRY
  • KERX
  • ECTY
  • SUNE
  • WEN
  • HIMX
  • EMKR
  • PLUG
  • ONVO

Good luck.

Swing and position trader. Portfolio manager. Market technician. Former long/short hedge fund manager and prop trader. 20 years of market experience. You cannot succeed in this business without understanding and embracing risk. Opinions are my own.

Posted in Just Rambling

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