Tuesday, July 11, 2006

Trade Ideas: TEF, ORA, RPF, AIRM, EWP, SZE, CRZO, HTBK

Share ideas were flying off the Trade Ideas scan as the post-lunch rally took hold on Wall Street. Good volume in the tech averages (much needed given their precarious state) was the first indication of life in the bulls after a series of small losses. Much work still to do however.

Some good charts:

TEF is working the right-hand-side of an 18-month base. Stops go on a loss of $48, resistance at $51. Projected target $60 (which also corresponds to the point-n-figure chart target, part of the July 3rd ascending triple top breakout). In the same vein is the Spanish iShares, EWP. Watch for break of $43, stops on loss of $42 and look for move to $50. Mature stage rally but the 40-week has been support on three occasions (July 2005, November 2005 and June 2006).

RPF is a Realty fund challenging $23 resistance with support at $22.60. Excellent low risk entry here. Look for short term move to $25 but point-n-figure chart target of $34.50 is not outside the realms of possibility, part of a January 6th double top breakout. 8% yield.

CRZO is threatening $32 resistance as the 40-week moving average squeezes demand. Stock managed a double top breakout on June 23rd with a $53 price target. Stops on a loss of $27.





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