The U.S. stock market closed mostly flat yesterday with the DJIA up 21 points while the S&P 500 added 0.24. Considering the big move on Tuesday, a consolidation day was constructive. Pre-market futures are a little in the red for U.S. indices, but less so than earlier. The ADP employment report released at 8:15 AM showed a higher expectation for new jobs, +325,000.
A review of yesterday's setups shows that URZ broke out, closing up over 6% at 2.07. XRA and AFFX also broke above their trigger points adding about 2% each. The uranium and rare earth element sector continues to show strength, with stocks like REE, AVL, and QRM all making strong advances.
PLM was the star of the day from my list. Mentioned in Monday night's setups, it broke above resistance on Tuesday and then added more yesterday, advancing just under 12% to close at 1.23. It blasted through its target point shown on the chart, so some profit taking and consolidation is probably in order.
These low priced setups I'm posting are short term plays only. Many of these stocks are in longer term downtrends which means you don't want to hold them very long. So if they move 5-15%, I'm taking quick profits.
The market has too many unknowns going into the first part of this year for me to be confident to take a medium to longer term approach. For now it's "hit and run".
Here are a few setups for today, not in any particular order: (NOTE: Watch the low priced solar stocks today)
ALWAYS use stops to limit your losses.
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