Thursday, August 30, 2007

Trade Ideas: EXAC, AOS, DT, CHN vs CIEN, INTC, ORCL, PRSC

It has been a while since the Trade Ideas scan showed some buying merit, but Wednesday was a vast improvement over recent days (irrespective of whether the market was up or down). The "Top-8" list came in at 10 minutes (which I would still consider bearish - but at least it didn't take hours to get 8 stocks), with an unusual large cap tech feel to the "20-appearance" list which came in at 4 hours and 50 minutes - in addition to Ciena (CIEN), Intel (INTC) and Oracle (ORCL), there was strong buying for Apple (AAPL) and Adobe (ADBE) too. Did Tuesday's selling represent the extent of the backtest for August lows? I don't think so - but this rally (for however long it may last) - is showing a little better fortitude than it did last week when indices appeared to rally without the backing of broad stock buying.



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

If you are interested in knowing what I do with the "Top-8" and "20-appearance" data I have prepared a report here.




 
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