The market did help itself with Friday’s rally however my timing system remains bearish/neutral. Should the market firm up on Monday it could be enough to flip it back to bullish. Lately the best way to play the markets has been to buy the bullish timing signals and sit out the bearish. Speaking strictly of the character that has all the makings of a strong bull market when every time it looks as if the market is ready to breakdown it turns back up.

Will it change? Yes. We just don’t know when so keep your watchlists ready for both long and short plays because it’s anybody’s guess which way this market is going to go in the short term. I remain short a few etf’s but my positions are small as I recognize we could get whipsawed again.

These two stocks were previous momentum winners and now they are consolidating their gains and could be in a position to stabalize near their 50dma. Below are some guidelines on where I would enter, stops, and profit targets.

BRKR

  • The closer to the 50ema ($19.34) would be ideal entry and lower your risk.
  • A stop would be a weekly close under the 50ema.
  • This could recapture it’s highs and potentially go beyond that.
  • Nearly 3-1 reward/risk as of Friday’s close
  • Earnings on April 28th

brkr.png

BC

Entry anywhere between Friday’s close($23.95) and lower BB ($23.14). A stop would be a weekly close under the lower bollinger band. This could recapture it’s highs and potentially go beyond that. Better than 2-1 reward/risk as of Friday’s close Earnings are on April 28th

BC.png

Disclosure: Flat both of these positions, but could enter anytime next week.