Tuesday, August 08, 2006

Trade Ideas: BDJ, BKT, NCV, JPC, LEO, LCAPA, EVG, JQC

The market didn't take too kindly to the Fed breaking with recent tradition and stalling on the rate hikes. The path towards selling was all too easy to follow once the lull of pre-Fed trading was broken. A better sense of the Fed decision will be given after traders have had the chance to sleep on it. The Russell 2000 came out the worst of the indices as it switched roles with the Nasdaq to become the lazy laggard (Large caps > Tech > Small caps). The lack of buying was also evident in the Trade Ideas scan as the following eight picks (the majority of which were conservative, dividend/income funds) covered a time span of 60 minutes. The bulk of the picks are in well established trends with LEO and NCV the only two picks to benefit from recent bullish crosses in the 20-day MA/50-day MAs. A typical flight to safety.






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