BALTIMORE (Stockpickr) -- "The future is uncertain; it is always a difficult time to invest." It feels like Blue Ridge Capital founder John Griffin was channeling this exact month when he made that comment.
Between the announcement of Janet Yellen as the new Fed Chairman nominee, the ongoing debt crisis debate, the start of earnings season, and new highs in volatility for 2013, traders are scrambling to try to make sense of the markets this month. And despite the fact that stocks are certainly still in correction mode right now, October hasn't exactly been a bloodbath for stock investors: the S&P 500 is only down around 2% since the start of the month.
So while there's no question that we're in another difficult time to invest, it's not quite as one-directional right now as many folks feel it is. That's creating some attractive trading opportunities in the biggest names on Wall Street right now.We're taking a closer technical look at five of them today. If you're new to technical analysis, here's the executive summary. >>5 Stocks Hedge Funds Love This Fall Technicals are a study of the market itself. Since the market is ultimately the only mechanism that determines a stock's price, technical analysis is a valuable tool even in the roughest of trading conditions. Technical charts are used every day by proprietary trading floors, Wall Street's biggest financial firms, and individual investors to get an edge on the market. And research shows that skilled technical traders can bank gains as much as 90% of the time. Every week, I take an in-depth look at big names that are telling important technical stories. Here's this week's look at five high-volume stocks to trade this week.
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