Trade Ideas: LLY, ALV, ZLC, FNF, IXN, EWA, WXH, MNT

Markets hold yesterday's gains, small caps doing particularly well. There was a greater degree of buying than was observed yesterday; the Trade Ideas 8 pick covering a time span of 1 minute - typical of bullish days.

The buying was relatively evenly spread - no one stock hogged the limelight; Allis Chalmers (ALV) was the most frequent stock to appear at 23 times, but was one of two picks to create a bearish cross of the 50-day MA by the 20-day MA over the last 2-months (Australia iShares, EWA, was the other). Bullish crosses between these two averages occured in Eli Lilly (LLY), Fidelity National (FNF), iShares S&P IT (IXN) and Winston Hotels (WXH).

The 1-year charts are mixed. Eli Lilly (LLY) has the best looking cup-and-handle pattern; buy break of $58; stop on loss of $56/50-day MA; projected target of $66. Fidelity National is working through a bullish flag; stops on loss of $41; projected target of $50. Winston Hotels (WXH) has shaped a scrappy handle-on-handle - the range of the second handle is bounded by $12 support and $13 resistance.



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