Tuesday, November 2, 2010

Early Morning Thoughts

Stocks not surprisingly finished flat ahead of the big Election Day. They started off with a bang however after economic news from China and ISM here at home were released. Volume was tame, again waiting not only on today, but the start of the two day Fed meeting and Fridays employment report. Real estate equities were strong today.

Stocks showing specific buy points include: XRX @11.82, cup without handle, PPG @78.10, 3 wks tight pattern. IR @40.23, double bottom with handle. AMT @52.44, flat base. SOA @18.68, cup with handle.

NTGR can be bought @29, back to its breakout spot. XXIA @15, close to its gap up area. AKAM @48, its 50 day MA.

A buy stop can be put on NEM @62.25 as it breaks free thru its 50 day MA. MRX needs to hold its 50 day here. Keep an eye on BLL here. Pulling back after a monster volume move to an all time high for the stock. Buy it on weakness as long as it lives above its 50 day MA @60.

Good luck.

The author holds positions in: CRM ORCL RADS SMG CAKE.

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