Free stock pick for 06/29/2011
Dear traders,
I like to note that after two trend days in the row it is logical that every new long setup will be higher risk, especially based on intraday action because we can expect to see some 60 min correction. I think that indices still have good odds for more upside move or at least more strength then weakness for rest of the week. Since many charts look extended on 60 min time frame right now is very important to compare individual name with market and try to find “own way” chart what is lowest risk in this situation. Wish you all nice trading day and use more caution on longs then last two days. I won’t be surprised if we will see consolidation day after two trend days in row. I believe that we could see morning pop in to 06/22 high and then correction can started, it is just one of options
All best
Ivica
PLEASE NOTE: The primary focus of my service is to find Swing Trades. I look for intraday setups that have a potential to become swing trades. Since my membership is diverse I do post additional ideas (day trades, position trades and scalp trades). It is up to you to decide which trades are appropriate for your trading style. I do NOT personally take every trade. Your success depends on YOU taking trades you understand and like. I am always available to contact for additional trade explanation.
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