Sunday, March 27, 2011

Watchlist for next week

It was an awesome week for longs last week, no two ways about that. But during my weekend scan, I didn't find too many tempting long setups. That said, I am not going to short these markets based simply on the recent track record of the bulls. A bit of pause or consolidation, or even a slight pullback, is not going to do the bulls any harm here. Following are few charts that I like for next week. Here are the results from last week's watchlist and also some more setups.

SCS - Like the gap up above MA(50) which meets the criteria underlined in the post How to play gap ups. and the consolidation after that. A buy on break of 11.


YOKU - Nice move off MA(20) on good volume. New highs coming.


PANL - Bullish volume pattern. Like it more as a momentum play rather than a swing trade. Buy on new highs.


IRM - Nice narrow consolidation after the breakout. Look for volume to come in.

I will be back later with Chart of the Day.

Take care and good luck!

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