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Stocks Potential Longs for 6-9-10

Went thru 1000+ charts "eyeballing" 'em. And yeah, if the mkt indices lag or sell off, these are "no go's." But if there's a strong UP day in the mkt., then here are a few that I see as potential long plays with minimum risk and good upside potential:


I'll post these here and there along the way. And you'll tend to see some of the same stocks again and again ... but for a reason. Also, if these stocks (and others that you may be tracking as potential longs) break DOWN or chop ... then that's another "internal" type of indicator that the market indices may be due for a sell off intraday, at least for a while, as the individual stocks collectively begin to crumble. Just tossing this out fwiw.

This speaks to another post on a topic I laid out about software that tracks new intraday highs and lows streaming from a vendor such as Trade-Ideas among other similar vendors ... that almost functions as an indicator not too dissimilar from the $TICK or ADV/DECL Volume etc. ... and is much more immediate and can be another tool for "reading" the market in real time when combined with quote flow, an individual's chart/indicator patterns etc.

Hope this is of some value for trading either stocks or the ES! I use my PSAR and Pivots as a MAP for tracking whether to enter or whether not to enter a position.

And don't forget to track the /NQ ... /YM ... and /TF on intraday charts to get confirmation (or not) on the ES direction and ability to follow through. For instance, today (6-8-10), the Naz was weak and held the ES down from a bigger move up ... and that was apparent and playing itself out throughout the day just tracking its 5-minute chart looking back at a couple of days worth of data.

nice, 4/6 winners (ie currentPrice > open) .
Keep it coming!
Thanks Phileo. With a RTH run up intraday of roughly 20 points followed by a total retracement back down into the close ... these kinda stock picks can be useful if trading stocks, but as I also mentioned, can be a market "internals" indicator too.

One thing to keep in mind is that if the picks are heavily Naz/tech weighted, then it may not reflect the ES's unfolding direction as well. But the strength of the stock and pattern for a long still speaks volumes for peering inside the market to see what may be a kind of leading indication of ES direction (and espec. NQ in this case).

I'll post more here and there along the way. Fyi, I go thru 1000+ charts to get a feel for the overall mkt and sectors. And I also typically include some fundamentals as part of the equation.

I simply use TC2007 and have a minimum filter of price and volume for Nyse and Naz issues ... and go thru them all (sometimes twice) ... along with a couple of other filters of stock scans I use. Again, if the stocks are decent, then they'll, as they should, continue to show up on subsequent posts for obvious reasons.

Another thing ... I tend to seldom include any commodity related stocks like gold or oil etc. as they are impacted by the price of the commodity itself and usu. is much more a wild card.

The Funky Stock Monkey