Wednesday, August 23, 2006

Trade Ideas: XRX, CCE, EBF, BWC, AGO, BKD, SFI, ACXM

A slight increase in bearish pressure for the markets (the Russell 2000 in particular), failed to spike volatility above its prior consolidation breakdown, nor reverse upside breakouts in the key averages. Low volatility = low fear, which keeps markets in a bullish bias.

The Trade Ideas scan represented this action with a longer time span necessary to select 8 different picks; Wednesday's picks covered a time span of 10 minutes. No one pick shined for the day; XRX featured 17 times over the course of today, BKD, BWC, CCE and AGO were all in the teens for appearances, although AGO featured 4 times in the last 10 minutes of the day.

Brookdale Senior Living (BKD) is currently in my Collective2 portfolio and remains in good shape. Weekly resistance at $47.50 is still a challenge, and cautious buyers may wish for and end-of-week close above this price before buying. The 50-day MA was picture-perfect support on the last test and is a good place for stops.






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