I am deploying some capital right now, but not all. Stock market conditions are poor but currently improving. I’m willing to deploy up to 25% of my swing trading capital right now. If conditions improve, I will allocate more.
Here is the full Stock Market Health Update for the Week of Feb 7.
Below are the US and Canadian swing trading stock watchlists.
If I find one or two decent trades over the next couple weeks, that is all I am after in these conditions. Being selective is good.
If we continue moving up, there will be plenty of opportunities.
US Swing Trading Stock Watchlist
This a not a buy list. It is stocks I am watching because they have the potential to form a contraction/triangle pattern. I watch for these stocks to form valid entries based on the strategy. This strategy and others are covered more in-depth in the Complete Method Stock Swing Trading Course.
From Last Week (I added some in the comments)
I dropped a few that I was unlikely to trade.
AR -Big pattern. Pretty nice.
LPLA – Needs more time.
PG – Needs more time.
MAR – Needs more time, flat for a year.
AAP – Needs more time.
REGN – Earnings recently. Monitoring.
BG – earning soon. Angled up.
Added This Week
EXPE – Contraction and bigger cup and handle. Nice. Earnings soon.
Charts are provided by TradingView – the charts I personally use.
ANTM – Smaller pattern. Descending. Nice. Don’t like the R:R.
TGA – Nice.
TATA – Nice, also a rounded bottom, but so gappy.
CIVI – Nice. Not contracting much. More like a range.
SM – Needs more time.
Canadian Swing Trading Stock Watchlist
Screen is the same, but I bumped volume up to 100,000 (and still had to drop one from the list because volume is too low).
Feels a bit like scraping the bottom of the barrel at this point. Had some nice breakouts last week with HME and SALT, and DRM already running when I posted last week. But there are a couple that are setting up.
Want to learn how to scan for and trade these patterns? Know which ones to trade and which ones to leave alone? Learn this strategy and others in the Complete Method Stock Swing Trading Course.
By Cory Mitchell, CMT
Disclaimer: Nothing in this article is personal investment advice, or advice to buy or sell anything. Trading is risky and can result in substantial losses, even more than deposited if using leverage. I may take positions in some of these stocks as they trigger, but I can’t trade them all. Which stocks I trade will depend on conditions at the time, risk/reward, stock strength, and other factors.