Monday, January 29, 2007

Trade Ideas: AGD

Another quiet day for the markets with only small caps (Russell 2000) showing a continuation of its recent bullish strength. It has still to break 797 resistance, but every day it takes a step towards doing so. The Trade Ideas scan was modestly bullish with 8 picks covering a time span of 9 minutes.

Top of the frequency list was Alpine Global Dynamics (AGD). The closed end equity fund is contained by a downward price channel with resistance just shy of $23. Stops can go on a break of $22.15. This 2006 IPO looks well placed to break 2-month resistance having successfully tested the 50-day MA. Look for a measured move target of $27. It pays an 8.6% yield.



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