Trade Ideas: JPG, CLG, PDX, EDS, TVE, PCF, TYW, VPL

Bears didn't do much point damage, but volume climbed to register a distribution day for the Nasdaq (Stockchart.com have yet to update the volume for the other indices). A quick review of my current-in-play picks saw a more widespread malaise, but not enough to suggest the day was more than what it was (i.e. a mild down day). The Trade Ideas scan kept its current form with 8 picks covering a time span of 9 minutes. However, none of the 8 picks broke the 20 appearance mark, and many didn't climb above 13 hits - very poor.

Bullish crosses of the 20-day and 50-day MAs occurred in Vanguard Pacific VIPERs (VPL), Pediatrix Medical (PDX), and Cumberland (CLG). A bearish cross of these averages was observed in Nuveen Equity Premium and Growth Fund (JPG).

The 1-year charts are mixed. EDS (EDS) has shaped a nice cup-and-handle pattern; buy break of $27.50, stop on loss of $26.40, projected target of $34. Trend traders may find some love with Tennessee Valley Authority (TVE), Putnam High Income Securities Fund (PCF), or TS&W/Claymore Tax Advantaged Balanced Fund (TYW).



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Trade Ideas