Readying Buy List Again

The last two sessions have once again provided another opportunity to go long.  Here's what I'm thinking.  I think we're in a trading range up until the next GDP numbers are released - that puts us into early next year.  So, going forward until that point in time, I'm going to trade with that thesis (unless, of course, something big unexpectedly befalls us).

We're retesting support levels again and will probably run up against it tomorrow after the jobs report is released.  Feels like the sellers/liquidators are out in full force yesterday and today, although not as bad as in prior weeks  That's a good sign as maybe they're finally exhausted.  But, also, it gives a chance for cash-rich funds to start rebuilding positions for the coming year.

I'm rebuilding my long-term portfolio, but I'm also wanting to trade a little in this time frame.  Remember, my long-term portfolio consists of stocks that are value oriented, head of the class, wide moat, etc. types of companies.  Lately, I've been employing wide scales.  Also, I'm looking 3-5 years out so I will ignore a lot of noise that comes and goes.

In terms of trading, I usually like momentum, high-volume type stocks.  These are stocks with lots of noise.  I'm usually holding a couple hours to a couple days.  Not necessarily scalping but a 4% profit is sufficient.  I take stop losses on these seriously.