Wednesday, June 28, 2006

Trade Ideas: PMF, FGP, BANR, OMN, FGP, PVX, HEX, CVD

The tension in the markets eventually released into a downward swing. This increased the time spread for the Trade Ideas scan; 31 minutes is a big increase to yesterdays 1 minute. The most frequent stocks to appear over this time frame were PMF (5), BANR (3) and PVX (3).

PMF: Late day surge took prices back to last week's highs. Continues a steady uptrend begun at the start of 2005 but it is a relatively illiquid stock.

BANR: Trading at convergence of 20-day and 50-day MAs. Tight action around $38 sets up plenty of tension to force a move one way or the other. Run stops on a loss of $37.

PVX: Two weeks of coiling action sprung upside on modest volume (off the 50-day MA). Key resistance lurks at $12.75. Set stops on a loss of $12.00. Continues a triple top breakout from May 11th with a target of $18.00.





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