GROW COG RYL CROX Stock Picks for 032107

I hope some of you caught the wave up today. Often, after the federal reserve comes out with their decision to change the federal funds interest rate, you’ll see the market change direction in violent swings. There was one change of direction today. Up.

GROW reversed it’s drop yesterday with a consolidated range (2 inside days) the last 3 days. Watch for movement out of this. Trading back over the 50 dma could provide momentum.

Oil stocks moved higher with the market. COG has a break over the mini base. Watch for an increase in volume, and momentum higher.

As I mentioned yesterday, the homebuilders are building a botom for now. Notice how the sell signal quickly reversed. It’s because stocks in the sector have already made the big move down. I haven’t talked much about retracement, but that’s all this is, on a bigger scale/longer time frame.

CROX wasn’t participating in the rally today. I’ve been trading this on the short side, and will again, if it lags tomorrow. The 50 dma hasn’t turned down yet, so I’m staying with day trades for now.

As usual, I’ll wait for setups before entering any stock pick. I’ll set a stop loss, potential targets, and sell in partials when the trading plan dictates.