Wednesday, September 06, 2006

Trade Ideas: CSG, MCK, ATB, HRH, TWI, DKS, DF, COHR

Tuesday's action was a tease towards Wednesday's more concerted selling. Interstingly enough, my Trade Ideas scan took less time to come up with 8 stocks than yesterday; 8 minutes (versus 13 yesterday).

Mckesson Corp (MCK) was the most frequent stock on the day, it made 32 appearances on the scan. Cadbury Schwepps (CSG) was a distant second at 13 appearances. One of the picks, TWI, trades its 20-day MA below its 50-day MA (bearish). Recent bullish crosses of these averages occurred in DKS and COHR.

No one pick looks particularly compelling. HRH broke through $42 resistance and is now in retest mode of this new support price, stops should go on a close below this price. MCK pushed past $52 resistance, part of a 1-month handle. Watch for resistance around $54.50. Stops on this one can go on a loss of the 20-day MA. COHR is in the process of forming a small, consolidation triangle, watch how support at the 20-day MA holds. Resistance in COHR lurks at $38.






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