A pullback from this rally had to come, and today was the day. Four of my picks barely broke my buy points from last night, but 3 were on pitiful volume, and of course the market pressure early on was a sign it would not be a good day for breakouts. Of the 4 picks that "broke out", CNX, RRC, BMRN and INCY, only INCY had confirming volume. But it sold off quickly after touching the buy point, stopping me out.
EDIT: I also bought BMRN in the morning.
All of these stock could offer new buy points. Volume is key though. As always, I am keeping stops tight on every trade. If it's obvious the trade is not going to work out, I will pass or cut losses quickly.
Because tomorrow is options expiration, and Monday is a holiday, I am planning on taking any new positions tomorrow. I want to go into the long weekend holding my gains. However, if tomorrow is a strong uptrending day, I will be watching these stocks:
AKS, BMRN, CF, CLF, CNX, CMED, CMO, CPHD, PTEC, RRC, YTEC.
Good trading. I will be back on Monday night with some more picks for the coming week.