Thursday, November 18, 2010

AM Musings

Markets are strong this AM after a mixed finish yesterday. Optimism of GEs IPO, Ireland problems possibly resolved and jobless claims. Volume came in below average levels suggesting big players (mutual funds, hedge funds, pension funds) didnt sell en masse.

Stocks that continue to find support at their 50 day MA are: MAR @37, INTU @46.50, RHT @40.50, ORCL here, EMN @76, AAPL here, ARUN @21, AMT @51, APKT @39, CHRW @70, HAS @46, YUM @48, NKE @80, IBN @51. Stocks that will look to find support at that 50 day MA are: CAT @79, IPI @29, WYNN @100, APC @60, COP @59, MUR @64, NBL @78, AA @12.50, ABX @47.50, AMP @50, CVLT @28, INFA @38, TIBX @18, CE @34, JNPR @32, TDC @38, RAX @25, SWC @17. A buy stop on BUD can be put in @60.25 as it clears its 50 day MA. Same for ARMH @18.25 as it drives thru its 50 day. Has been basing there tightly for a couple weeks now.

Stocks that found support at their 200 day are: ROG @65, NVDA @13, EGO @16.25. JCG looks to challenge its 200 day MA @39. Put in a buy stop just above that number.

QCOM now has a 49.55 buy point in a cup with handle pattern.

Gap ups still intact are RVBD PH BRCM WFMI.

Good luck.

The author owns ORCL.

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