The current market conditions are making swing trading very difficult for us. However one trick that I have learned from Paul Scholardi (click here to visit his amazing stock mentoring service) is that there are opportunities even in a weak market.
Typically when the market weakens I watch my portfolio for the stocks that are demonstrating the strongest upwards price action – or even stocks that are just not following market downwards. Finding these market leaders during a market correction, such as the one we are experiencing now is like finding gold! When the market does bounce back the first stocks that give you HUGE profits are your authentic leaders.
One good example of this recently has been $UBIC , a stock with just 1mm in the float, company specializing in ADR Big Data for legal issues.
This stock was heavily shorted a week or so ago and has been subject to a slow, brutal short squeeze. I suspect that this one will go much higher when the market bounces but I prefer to take profits when I have them in this market! If you look at the weekly chart (above) for this stock, back in March when i bought this the volume was increasing and the RSI steadily trending upwards. Given that the market in general was losing points at this time indicated to me that this stock is a authentic leader.
Good luck trading!