8-10-2015 Comments

Watch lists in the High Growth Stocks area have been updated. I notice that futures are up this morning before the open. Perhaps we are going to have another one of those incessant bounces. Betting against bounces in recent times has been a losing proposition. My favorite long plays this morning are ANET, CELG and PAYC. I am a little uncertain about PAYC, the watch list buy price is based on a double bottom base formation. However it looks like it actually formed a triple bottom and has already broken out. Some triple bottoms work but they have a lower probability of success than double bottom formations.

I don't really recommend taking short positions in the current market even though some of them are working (BITA, JKS, SPWR, YELP).