Stocks On My Watchlist: Book’em Or Gun’em

There wasn’t much action yesterday in the market which is pretty much what our watch-list told us. What I did notice was the notable selling in some of the so called “Leaders” Netflix Inc, (NFLX), Zillow Inc, (Z), Yelp (YELP), LinkedIn (LNKD), Google (GOOG) and the Financials. With a few days left to the quarter many might be under the book’em or gun’em dilema. In other words, do I book my profits on these leaders before quarter end or do I push the envelope trying to squeeze a little more. Going through some charts you will also notice a lack of follow through in the some of the recent breakouts, specifically the Chinese stocks along with Shippers.

Yesterday’s standouts from the watch-list: Entravision Communications, (EVC) +7.43%, CaesarStone Sdot-Yam Ltd, (CSTE) 5%, Opko Health Inc, (OPK) +1.31%, Krispy Kreme Doughnuts Inc, (KKD) -1.76% (short).

While my watch-list is somewhat weak again and it’s suggesting to stay nimble (that is not bearish or suggest going short) overall the action underneath is still fine. What the market lacks right now is good entry points on many stocks. We can achieve that through a price and or time correction.

These are what I consider very tight set ups that will trigger if they break yesterday’s high. On a regular trading day I would indiscriminately take every trigger because you just don’t know which one will be the big winner, you might have an idea but in the end you don’t know.

Skullcandy Inc, (SKUL), Align Technology Inc, (ALGN), Dorman Products Inc, (DORM), Matador Resources Company, (MTDR), MercadoLibre Inc, (MELI), Organovo Holdings (ONVO), ChinaCache International Holdings, (CCIH), Model N (MODN), ITT Educational Services Inc, (ESI), QuinStreet Inc, (QNST), Saia Inc, (SAIA), Erickson Air-Crane Inc, (EAC), Coleman Cable Inc, (CCIX), Saratoga Resources Inc, (SARA), Envivio Inc, (ENVI), Harvest Natural Resources Inc, (HNR), Five Below Inc, (FIVE), Live Nation Entertainment Inc, (LYV), Silver Spring Networks (SSNI) Hanwha SolarOne Co Ltd, (HSOL), Ardmore Shipping (ASC), Regado Biosiences (RGDO).

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.