Wednesday, August 09, 2006

Trade Ideas: MYD, DYN, ACV, ARK, BFJ, AXS, CAPA, SIAL

Bears again stepped up to the plate in afternoon trading to bully markets down. It was like death row for the Trade Ideas scan with nothing in the last 15 minutes of trading, and the eight-picks which were selected required 80 minutes. Alberto Culver (ACV) made the greatest number of appearances over this period; 9 in all. Muniyield Fund (MYD) was the only pick to manage a bullish cross of its 20-day/50-day MAs. While Sigma-Aldrich (SIAL) did the opposite.

If you can handle the volatility, Dynegy (DYN), may have the best opportunity to move forward. The stock staged another successful defence of the 50-day MA, while building a challenge of major resistance at $5.75. The weekly chart shows an almost 2-year bullish ascending triangle, part of a lengthy base going back to 2002 (see a point-n-figure chart).






If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.
 
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