As I mentioned yesterday, the delivery of this weeks watchlist is not going to be in video format. Rather, I am just going to provide a few ticker symbols of interest that I am going to watch tomorrow morning to get "long" or to get "short." Loading charts is an unbelievable pain in the ass with this spotty internet connection, so let's make a simple list of tickers work for us this week.

I am often asked how I come up with the stocks on my watchlist each week, so now would be a good time to give those of you who don't know an idea of how my ideas come about. First, I keep watchlists of stocks. Roughly 50 "lists," organized by sector/group, with about 100-150 stocks on average. How do I pick them each week? I review them via thumbnail charts. I can visually look over all these stocks in under an hour. All I am looking for are good technical strengths, such as trend, volume, and relative support and resistance levels. My eyes can locate a good set-up in a matter of moments. It is a skill you will develop by looking at charts day in and day over the years. At the end of my hour of research, I have written down the stocks of interest, and analyze them a little deeper as the next step before filming them.

This week I have taken the most recent copy of IBD (Investor's Business Daily) and reviewed their "Top 100" stocks in the same format as I analyze my watchlist. Meaning; I have put them into a watchlist and looked over all the thumbnail charts to find decent looking technical set-ups. As you will notice, these are strong stocks landing near support, or stocks that are trading within a range that I am watching to breakout. On the flip side, when looking for bearish set-ups I am looking for downtrending stocks reaching resistance or stocks trading near their lows within a range, that look ready to breakout. As you notice in my videos each week, that is how I categorize them (dips, rips, breakouts, and breakdowns).

Below are the stocks I have found and liked, that follow the same technical set-ups I produce day in and day out. Hopefully you might find one or two (or more) of interest.

Price Patterns: ATW (Double Top), HXM (Triangle), CLHB (Triangle), RNT (Double top), NOK (Descending triangle), HOC (Descending triangle).

Long: APA, AXYS, BUCY, CLR, CNQ, CRZO, FTI, GMXR, PNRA

Short: CEG, BOOM, HOC, VLO, UNH, HUM

Groups: Look for overbought banks, brokers, or financial institutions to short. Look for oversold oil and energy companies to buy.