Routine is something that I've grown to really appreciate over the past few years. It boosts productivity, helps allay the temptation to multitask, and importantly, to be able to shut things down and the end of the workday.
An essential piece of my daily routine is scrolling through a few thousand charts as I develop watchlists, set alerts and draw all those funny lines that those efficient market aficionados despise. Not only does that help identify opportunities and manage risk, it also keeps me focused on the actual pricing action, both in individual stocks as well as the broader market.
It's always easy to worry about all the bad stuff that might happen. I recently heard from someone who said that his kid had a summer internship at a big Wall Street bank, and that all anyone was talking about with clients was their expectation for a significant downturn in the market. They may be right, and I still can't seem to find a lot of growth names that have even acceptable valuations, much less attractive ones, but at the same time, there's been no actual evidence to support an overly defensive approach yet.
That time will come, and it could happen at any moment, but while we wait, I'll continue to stick to my routine, work the charts, and look for actionable ideas.
I mentioned yesterday afternoon there are a number of attractive setups to keep an eye on, and I've got a few more for your consideration today.
Data I/O Corporation (DAIO)
Weibo Corporation (WB)
Sohu.com Inc (SOHU)
First Data Corporation (FDC)
This article was written by Jim Koford.