Originally Posted by
siriusly_invested
I don't know about everyone else here, but with the major markets now into record highs, once profits have been taken off the table I believe patience is the operative word and attitude. In other words, now is not the time to go shopping for a bargain. I offer as an alternative a reminder to re-focus on lessons taught in that little book we discussed a few months ago "Stikky Stock Charts".
Now with ample dry powder this is the time to begin the search for our next investment target(s) and a little chart work at Freestockcharts.com is a great place to start. That is where I personally have developed my list of future potential opportunities. Bear in mind that with the aid of that charting tool it is a simple task to chart the upper and lower trend lines as taught by that book, and to that you add the Bollinger Bands, 50/200 dma plots, and where appropriate, use the Fibonacci Retracement tool. With all those tools in my kit of tricks, I have the following list of candidates to keep an eye on, and be ready to make a decision when the price dips to the indicated level (at or near the lower trend line):
AMD (2.35), AMT (76), BAC (11.50), BBRY (13.50), CADX (5.75), DDD (30), FSLR (40.50), GMCR (50), HLS (25.75), RCL (32.50), SBUX (57), THC (41), and ZLC (3.80)
Spend a little time in the charts and let them help with your list. Don't get greedy, and by all means, be patient especially while this market is soaring through the clouds. Opportunity will come, and when it does, you must be able to recognize it and take fullest advantage.