Monday, September 18, 2006

Trade Ideas: CSR, CMO, JCP, RWF,AMX, ZF,NSL, VE

The markets are loitering in to the run up of the Fed decision. This was reflected in a relatively lacklustre day for the Trade Ideas scan; the 8 picks for Monday covered a time span of 17 minutes, moving beyond the 4 minute range of last week.

The two most frequent stocks to appear were JC Penny (JCP) and Veolida (VE) at 29 times each. Interestingly, JCP was the only pick to generate a bearish cross between the 20-day and 50-day MAs. Bullish crosses of these averages occurred in CSR, CMO, and VE, over the past 2-months.

For those who like to buy base breakouts, Credit Suisse (CSR) looks the best deal, stops go on loss of 50-day MA. Look for move to $75. Cup-and-handle buyers can look to Zweig Fund (ZF). Stops in this can go on a loss of the 20-day MA. Look for a move to $6. Measured move traders can look to Veolia (VE); going from $40 to $60, then back to $47, should see it advance to $67. Investors interested in dollar-cost-averaging can stick to JC Penny (JCP). Today's late stirrings were bullish, but the stock remains range bound in the $60-70 range.



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