Here is an overview of the new items on my watchlist for today. I would consider these as long swing candidates. All these are symbols with very bullish outlooks on the weekly charts but are down on the short term. The plan is to wait for a reversal by flagging the items on the watchlist and buying (paper still) if they poke through the previous day’s high. Once in, I fix my target near the upper channel line and set a protective stop somewhere below today’s or yesterday’s low.
The goal is to stay in from 2 to 4 days and take the profit at the upper channel. A trailing stop order will follow the progress of the stock and bail-out at any sign of pullback.