Wednesday, December 27, 2006

Trade Ideas: UA, JLA, BCS, B, GGB, TJX, ARJ, AG

Another good day for small caps, with large caps along for the rise. Tech is doing OK, but the channel break in the Nasdaq 100 still holds. The Trade Ideas scan skipped along with 8 picks covering a time span of 5 minutes.

Unlike yesterday there were no real star performers; early day strength saw 50 appearances for Cleveland-Cliffs (CLF) and 32 for Petroleo Brasileiro (PBR). But the picks I have featured for the most recent scan made less than 20 appearances.

A bullish cross of the 20-day and 50-day MAs inside the last 2 months occurred only for Nuveen Equity Premium Advantage Fund (JLA). For the 1-year chart there is solid trend trading for Under Armour (UA), Barclays Plc (BCS), Nuveen Equity (JLA), TJX Cos (TJX), and Agco (AG). Watch for a cup-and-handle in Gerdau USA (GGB) and Barnes group (B) as they approach 52-week highs.

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