Friday, December 01, 2006

Trade Ideas: HC, RNO, NIO, LGF, TCK, BGR, ACG, PDX

A bad week for the indices ending as they started with another big 1-day loss. The weakness drove out the Trade Ideas scan to a point where 8 picks covered a time span of 1 hour. Only 1 pick, Pediatrix Medical (PDX), featured over 20 times at 22 appearances. The other picks failed to break double digits = very weak buying all round.

Of the 8 picks: Hanover Compressor Holding (HC), Rio Narcea Gold (RNO), Nuveen Insd. Muni Oppor. Fund (NIO), Teck Cominco (TCK), Blackrock Global Energy and Resources Trust (BGR), and Pediatrix Medical (PDX), all pushed bullish crosses of their 50-day MAs by the 20-day MA inside the last 2 months.

Long term charts of some of the picks show prospects:

[1] Hanover Compressor Holding (HC) sits on the verge of a break of $20; stops on loss of 50-day MA; projected target of $27.

[2] Nuveen Insd Muni Oppor Fund (NIO) still has August highs to break but is set to complete a 4-month handle; projected target of $16.50; stops also on a loss of the 50-day MA.

[3] Pediatrix Medical (PDX) eased back to $47.50 and 20-day MA support before pushing higher. Buy break of $49; stops can go on a loss of $47.50; potential for a move to $67-70.

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