Today, one simply need to look the other way and pretty much ignore in most part what the market indices are doing. The larger time frame trend for the market still pointing up, while the shorter time frame appear to be indecisive (correction or reversal?). Under the current market environment, it is very difficult to play the trend. You do not want to go aggressive long, and definitely do not want to short the market until it has clearly display the trend is down. Therefore, one must resort to be a stock picker and play the stocks that are showing strength.
Today, the stocks that I was focusing on were: NFLX, FB, GFI, and KKD. I am still holding long on AAPL, but was not really paying too much attention to it as I have this stock on auto-pilot with a protective trailing stop.
In this video, I will review the price levels that I was watching and some possible price targets for the stocks that I was watching.
Click here to view the video if you do not see a video player on you screen.
Disclosure: Long on AAPL, NFLX, FB, GFI, KKD
