Trade Ideas: STT, BOT, CME, BK, SKX, GME, IYW, RTH

Markets rebound of near term support with large caps confirming their breaks of May highs. Given the apparent strength of the market it was surprising not to see stronger action in my Trade Ideas scan. Today's 8 picks covered a time span of 6 minutes - okay, but on a real good day this should be a minute or less. Money is huddling around safety with little spare loving to go around.

On the plus side, there was no one real leader amongst the Trade Ideas selection; GME, WMT, RTH, STT, and BK all featured between 20-30 times over the course of the day.

Bullish crosses between the 20-day and 50-day MAs occured in the Chicago Mercantile Exchange (CME), Skechers USA (SKX), Tech iShares-DJ (IYW), and Retail Holders-ETF (RTH). Only the CBOT (BOT) has its 20-day MA below its 50-day MA - but even this is on the verge of a bullish crossover in these averages.

Momentum players will probably want to look at the bullish flag in the RTH; stops can go on a loss of $96, projected target of $107. SKX is undergoing some decent basing action; watch for break of $25, stops on loss of $23.50, long term target (12 months+) of $35. Gamestop (GME) has seen a confirmed double bottom off $36 and is currently working a small handle off a 6-month base; buy break of $50, stop on loss of 50-day MA, look for move to $64.



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