Our Best Idea For Thursday 1/30

As  the market conditions continue to be challenging, we are  entered a few swing trades on today's bounce.   We are entering using the same criteria we would for a trend trade, but with a short term price target (We don't have confidence yet in the trend of the market).  It has Very Bullish Chaikin Power Gauge rating,  strong industry group, price above a rising Chaikin Trend line, solid relative strength.   We are however using half size positions and tighter stop losses, as the market has been choppy.

Our Trade of the day is a swing trade in FRX, Forrest Labs.  FRX belongs to the leading industry group, which has outperformed the market over the past several months and showed an Oversold Buy signal today.   We have set a target of $70.00 and a stop loss of  $63.30 which has  a  2:1 risk v reward. 

If you are feeling a bit nervous about market direction, grab a free trial of Chaikin Analytics here, and see for yourself how Chaikin Analytics can help guide you through any market condition.  Plus, take advantage of 3 extra months and a $300 iTunes gift card when you sign up for a year. That's a great deal, and should easily pay for itself if you follow the system.  -- Mike and AA