Monday, May 14, 2007

Trade Ideas: CCI, UCO, COL

Friday's buying fell just short of reclaiming Thursday's losses and this failure was evident today as markets returned to their (short term) downward ways. The net trend belongs to the bulls but the bulk of volume buying of recent weeks has gone into takeover candidates and occasional forays into Chinese stocks - one would be hard pushed to find fresh leadership in the market. Technicals have also moved in favor of bears with two days of distribution since the last accumulation day and MACD 'sell' triggers in play in all major markets. For wannabe bulls the next test of the 50-day and/or 200-day MAs would look to be watch points for fresh (heavier volume) buying. The Trade Ideas scan eased with the top-8 picks covering bearish territory of 13 minutes and only three stocks making it over the "20-appearance" barrier:

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