One thing people often forget to do in a crisis it to look for opportunities.
That’s not going to happen here!
We have a unique opportunity to study the market today so let’s use this space to make a list of stocks we watch that DIDN’T go down yesterday or that we notice early buying ineterst in today.
We all have our favorite sectors and there are hundreds of us so don’t feel like you need to scan the markets for everyone else, concentrate on the stocks you know best and just post up the ones you see that have surprising support.
These will become strong turn-around candidates we can discuss and analyze. Don’t forget, if we get a real recovery, we are 800 points from the top so we have all the time in the world but we can start charting some of these strength stocks and have a nice set of upside plays ready when the market turns.
We’re looking for outstanding stocks so check your sectors and competitors and make sure they’re really outpacing the group and try to find out why. For example:
SNDK was up .11 yesterday and never went negative. They had a UBS upgrade in the morning and started off going from $40.25 to $41.50 but did give it all up and finished at $40.28 –
NVLS, on the other hand, had no news but held it’s line all day, far ahead of the bulk of the semis, certainly worth watching.
QCOM gapped up on an upgrade and held it all day, finishing up 4%. They lifted their forecast in the morning citing phone-chip sales.
Our goal is to gather some names to watch, track them against their peers during a rough week and see if we can come up with a few winners…
