Thursday, October 19, 2006

Trade Ideas: LYO, AGD, WWE, EMR, BEC, DNB, PCP, AZK

The indices are behaving in a quiet, low key manner. But many individual stocks are showing some nice bullish action. Looking through my various picks I was seeing a number of bullish piercing patterns at points of support. The Trade Ideas scan picked up the buying pace from yesterday; 8 picks covered a time span of 6 minutes. Outside the range of recent buying, but a marked improvement to Wednesday's 17 minutes.

The two most frequent to appear on the list were: Dun and Bradstreet (DNB) at 33 times, and Beckman Coulter (BEC) at 26 appearances. Both are pulling away from recent consolidations; DNB in particular is coming off a tightly held range between $74 and $75.

World Wrestling Entertainment (WWE), Beckman Coulter (BEC), Precision Castparts (PCP), and Aurizon Mines (AZK) have all enjoyed bullish crosses of their 50-day MA by the 20-day MA inside the last 2 months.

Cup-and-handle action can best be seen in: WWE (buy break of $17.50; stop on loss of $16; projected target of $21), DNB (buy trigger in place, stop on loss of $74; projected target of $95) and potentially PCP (handle still in progress; conditional stop on loss of $64; projected target of $87).

For base buyers, AZK and EMR and worth watching. Aurizon Mines (AZK) looks under appreciated at this time.



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