Wednesday, November 29, 2006

Trade Ideas: AGP, EEM, R, GD, STD, HET, ELX, HST

It was a day to get over the shock of yesterday. There was some increase in the volume buying over yesterday's selling, tech averages gaining most in this regard. The Trade Ideas scan bumped up its hit rate with 8 picks covering a more reasonable time span of 22 minutes.

Only two of the picks: Amerigroup (AGP) and iShares MCSI Emergimg Markets (EEM) managed bullish crosses of their 20-day and 50-day MAs inside the last 2 months. General Dynamics (GD) was the only pick to manage a bearish cross of these averages. However, General Dynamics (GD) was the only pick to make over 20 appearances on the scan, coming in at 29 appearances for the day.

Of the 1 year chart, Harrahs (HET) looks best positioned to gain following a huge breakout gap in October (which held as support on the subsequent retracement) which led to the development of a handle in a 7-month base. Projected target is $100-105 with a stop on a loss of $75.



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


 
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