Thursday, October 19, 2006


Other than the Dow it was another mixed day for the markets. The Dow made its trip above 12K but couldn't hold it by the close of business. Other markets closed down, but other than the semiconductor index, the degree of loss for these indices was low. A greater malaise was felt in the Trade Ideas scan; the 8 picks below covered a time span of 17 minutes. Buyers look to be turning their back on the markets.

Of the 8 picks, four picks: Hrpt Properties (HRP), Prudential (PRU), Textron (TXT), and Arcadia (KAD) enjoyed bullish crosses of their 20-day and 50-day MAs. Gerber Scientific (GRB) was the only pick to endure a bearish cross of these averages.

F & C Claymore (FFC) broke from a 7-month base with support at $20.50 and $20.80. Stops can go on a loss of the 50-day MA. Projected target of $22.50. Cox radio (CXR) has shaped a scrappy handle between $15 and $16. Projected target of $19. Similarly, Hrpt Properties (HRP) has shaped a scrappy handle in the $11.40 and $12.30 range. Look for $14. Textron (TXT) probably looks best placed with a tight handle between $89 and $91 after breaking from a 5-month bull flag - look for move to $105. Stops on a loss of $89.

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