New Years Set Ups

{+++}Happy New Year everyone. There are some background updates to the site tonight, so video and images (charts) cant be produced. Futures don’t open until the morning, normally we would have a handle on what things look like now. However Asia and Europe are higher and the euro is a little higher.

At this late hour, the House and Senate are still bitch fighting, so we’re still hanging on that outcome.

I want to see what tomorrow brings and we do have long exposure now, but if we continue higher, here are a few names I like a lot and I will be more specific tomorrow.

SRPT- Jan. and Feb. could be big for ths one as speculation of a fast track approval my grow legs. Very risky though, maybe better played with call options.

HOV- Very powerful chart. I have watched this go from 5 to 7 without me. 7.05 with volume is a breakout level but is also a pullback level. Lets watch it

WFC- Barring a disaster I love the banks and this one has puled back in a falling wedge. Looks good.

FAS- Will be watching this week, would love a pullback first.

Lets have a great year.

 

 

Joe Donohue

Joe is a full time trader with 25 years experience. He is a senior contributor and investor in Stocktwits and has been seen on CNN Money and quoted in Marketwatch, Forbes, Reuters, NY Times and Wall Street Journal.