7-1-07 New Watch List items

New watch list items:

AKS (updated setup)
BVF (updated setup)
ONT
JOSB
NGA
GRP
WDC

AKS and BVF are from the previous watch list but remain possible plays, charts have been updated.

Please see the public charts list for the explanation on each item. Some of the plays have split entries (1/2 at one price and 1/2 at another price): http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID2147404

In the public charts list for Rebel Traders I will use the following format in the title of each stock:

Any chart preceded with ### is an index.
Any chart preceded with ## is a current open trade I am in.
Any chart preceded with # is a watch list item

With the events over the past two days in the United Kingdom we have to see how this will affect the markets. Because we are currently in a trading range in the major indices this may prolong this type of trading. We have to see.

You will notice that some of the new charts in the watch list are weekly charts instead of a daily chart. It is important to remember that all good traders will always check backwards to get the big picture of support and resistance levels. Looking at a daily chart for the past few months may give some clues about the current stock health but one always needs to look back in time much more to see what obstacles the stock will still need to challenge. Always study your own stock plays by looking at weekly and even monthly charts to get the big picture. Even swing traders need to do this. Just because we may hold a stock for a few days up to a few months does not mean we only need to concern ourselves with the daily charts. On the contrary, for us to benefit the most and have the best picks we need to see back in time where major events (support and resistance) are at.