Trade Ideas: CBL, CSE, CDR, ETW, GSL, C, WFC, VCP

The coup in Thailand injected a degree of uncertainty in what could have (should have) been a quiet day. Although the market was down on yesterday the Trade Ideas scan was quicker in suggesting 8 picks; 6 minutes versus 17 minutes yesterday.

Most frequent stock to appear was Votorantim (VCP) at 28 appearances, followed by CBL and Associates (CBL) at 21 appearances. Only two of the picks had triggered bullish crosses of the 20-day and 50-day MAs over the last two months: Citigroup (C) and Global Signal (GSL).

Capital Source (CSE) is close to completing a 6-month base. Stops can go on a loss of 20-day MA with a short term target of $28. Cedar Income (CDR) has shaped a deeper base, with a projected target of $18, but it hasn't got the sideways 'handle' pattern typical of a base breakout. Citigroup (C) is well positioned for a challenge of $50 resistance. Look for short term move to $54 with a reasonable chance for upside follow through to $56.



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