Six Stellar Stocks Shooting Straight Up Nine Days in a Row
Tue, Feb 14, 8:31 PM ET, by Corey Rosenbloom
When we scan for stocks, we like to find “strong stocks getting stronger.”
One way to do this is to identify stocks closing up the most days in a row.
With the market itself up five days, here are six S&P 500 stocks up roughly NINE days in a row:
We START a swing trading process by scanning for stocks that catch our attention.
Right now, the following stocks are closing up the most consecutive days in a row:
Google (GOOGL), Biogen (BIIB), MMM, Lockheed Martin (LMT), Yum! Brands (YUM), and Aflac (AFL).
Once we have these candidates, we can decide what to do based on our experience/risk tolerance.
Newer traders should identify a strong trend in motion and aim to buy pullbacks/retracements in that trend.
For that, these stocks will become watch list candidates for future pullbacks (assuming the larger trend is up).
More aggressive/experienced traders can step in front of nine days in a row to the upside by short-selling or “fading” the persistent price action.
The thesis is “what goes up must come down” and though we probably won’t see a FULL retracement, we’ll see at least a partial one and that’s where you profit from an overextended swing.
You’re just trading it down to a rising moving average or key trendline (or price level).
Either way, with these six candidates, you have additional homework to do to discover your own trading opportunities.
Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.
Corey Rosenbloom, CMT
Afraid to Trade.com
Follow Corey on Twitter: http://twitter.com/afraidtotrade
Corey's book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).”
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