For the last couple of weeks I have been glancing through various stock charts trying to see what stocks work and what don’t.
Sure, I am coming across a lot of ‘nice setups’ but the problem is when every chart starts to show the same setup. This should instantly be a sign that these setups are absolutely useless.
The key is to look for stocks that are showing something different – stocks that have held up well or have not followed the same trend has other stocks and sectors.
In truth, there aren’t too many of these real great setups, but I have listed a couple below.
Cleawire (CLWR) – It really seemed like Clearwire began to pick up steam once the market turned. The trend is still up, but now we need to see if the support holds.
Quest Software (QSFT) - Unfortunately most of us probably missed the giant move, but you can see, from the large candlestick, that its highs couldn’t hold itself through the close. Continue watching this stock for any pullbacks.
Netflix (NFLX) – $100 continues to act as a support area.
