Yes, I think that current downtrend move is near end. I noticed during stock market sector analysis that a lot of SP500 sectors are on supports or they are going to move up for small correction move. So I feel that risk reward ratio is now much more in favor of long trades.

But it is necessary to be very selective. I personally want to see really strong stock for new long trade. Like FPL or CL . I entered stock swing long trade in both of them on Friday.

I prepared swing stock trade setups for long trades for Monday in these symbols: ALXN, MON, PEP and EOG. All of them are really strong stocks in current stock market situation.

Here is chart for MON:

This entry was posted on Sunday, November 11th, 2007 at 11:32 pm and is filed under General, Stock market comment, Stock pick. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.