With the market in its weird state of moving up and completely ignoring the sentiment readings that are showing that this run should have ended weeks ago, it is important to manage any new positions with good discipline. The market may very well continue to move higher, but because of the excessive optimism, any reversal could be strong and fast. Stay frosty out there!
With that said here are some setups and stocks I am keeping an eye on heading into this week (and beyond):
CF - I am eying $128.40 as a possible buy point. Chart below. SQM is another stock to watch in this group. I would consider SQM next break above $54.
RADS - Possible buy point of $20.25 if volume is heavy enough. The stock is in a strong group and has consolidated nicely the last nine weeks. OPEN and MRCY are two other strong stocks in the group.
GOOG - Not featured as much as it used to be, I think Google could be setting up for a sizable move. Take a look at a 1 year, 1 month chart on a weekly view and you'll see a pretty cup and handle setup forming. Next step in this setup is a push back above $600.
LZ - This stock was one of my biggest winners this year. I sold prior to the earnings drop off and to see the stock still holding up around $105 - $110 is impressive. I would consider the stock again at around $110.50 - 111.50 if price action is good.
GES - This stock might need some more time to build a proper base but is very attractive and worth considering with the next break above $50 accompanied by a tight stop.
DECK - I thought about participating on Friday as the stock broke $84 but opted against it. Nonetheless this stock may have more leg in it to make a push for the $90s and is one to watch.