Monday, October 11, 2010

Monday Monday

Markets finished flat today after a low volume Columbus day. Some M & A today as GYMB got an offer. Solar, ag and casino stocks all were the strong groups. Big earnings releases this week from the likes of CSX INTC GOOG JPM among others.

Stocks with specific buy points are: XEC @77.21 double bottom. Want to see big volume as always. SWC @17.52 (cup with handle). Just about there. LOGI broke out today @17.94 from a double bottom. Lets see how it performs.

Gap ups still holding up bullishly are: DE IBN AMSC NKE.

CRZO MCO strong after breaking thru 200 day MA. AA SGY just recently broke thru their 200 day and can be bought if they retreat back toward that line as resistance now becomes support.

ARMH can be bought near its 50 day MA @17. FMX has rallied smartly off that line in big volume. Very bullish. Lets see if PVH forms a handle here.

On the downside the software names that got crunched last week got pounded today. They are now short candidates as they venture back to their 5o day MAs. TSLA can be shorted under 20.

Good luck.

The author owns EXXI APA WLL. Short AVGO PSA WFMI.

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