An increase in buying momentum from yesterday; today's picks took 3 minutes to compile by the Trade-Ideas software. ROL : Shaping the right-hand-side of a 7-month base. The 50-day MA lurks close to $20.50, a good place to put stops. Buy break of $21.50. A move to $22 triggers a double top breakout on the point-n-figure chart with a target of $25.50 SMSC : Developing a broad consolidation triangle (about half-way through at this stage). Hugging the 50-day MA at $30.88. Weekly chart will mark a breakout on a move to $34, $35 will be necessary for the point-n-figure chart. Look for rally to $50. ASTSF : Weekly chart shows a large base spanning nearly 2 years. $8 is the line in the sand for bulls, a break of which should see the start of a right-hand-base to challenge $16.50. The point-n-figure chart holds a price target of $14.75. If buying here looking to run stops on a loss of $7. AVAN : A steady sub-$5 performer. Looks to have found support at $1.90. Resistance at $2.10. Weekly cha

The market is getting more and more interesting in the last week and I?m keeping a clear head despite my bearish bias. Any thoughts? Edgar, 2D Trading After Friday's big sell off it is easy to be bearish and today the NASDAQ 100 started to show the kind of follow through downside typical of the last two days of light gains. But I am not 100% we have our top (I do think we are close going on the relative positions of the NASDAQ Summation index, NASDAQ stocks over the 50-day MA, and NASDAQ stocks on PnF buys indices) although I would look to calling a top a more technical issue than a working, trading issue (i.e. if you have made money since October now is as good as time as any to bank it). From a workable trading issue, last week's highs are a good barometer as to whether one should be in the market or not e.g. a move above 2,330 in the NASDAQ has little resistance until it gets to 2,800 - so why sweat peanuts now by buying at 2,260. The problem as I see it for the bears was

Today's selection took 15 minutes for the software to collate so there has been a slow down in the rate at which Buy candidates have appeared over the last couple of days. PNC : Nice dummy entry with a stop on a loss of today's lows. Last week's gap is holding which is good news for bulls. Short term traders can look for a test of $68.25. Ride the trend. MW : Found support at the 200-day MA. Watch for a challenge of $38 and a likely 'Golden Cross' of the 50-day MA/200-day MA. Point-n-figure target of $49 looks reasonable CFK : Still working through a $13-16 base. Relatively illiquid but with the 50-day MA approaching it may find some impetus to bounce as it did in October 2005. ACAD : Moving up strong in the last half hour. Watch for close over $11.00. Real action will come above $11.50. Watch this intraday and look to buy pullback; $10.56 would be an ideal entry HQH : Building towards a 5-month base breakout as part of a larger 2-year base with resistance at $20. P

A promising start to the day has in the last 30 minutes turned into a wave of selling, crashing throguh my protective stop. The rate of decline was in part contributed by stops placed below $5.50, but usually stop sales are followed by a quick recovery - but not in this instance. Disappointed to see this one go.

Based on the modest bullish action over the last couple of days it looks like markets are set to retrace all of Friday's losses (only then will we have an idea if there is to be a follow through recovery). Some nice picks from the Trade Ideas software IYM : Finding support at the 50-day MA, run stops on a loss of $52. Bears could argue for a rounding top but such action would be negated on a break of $54. Point-n-figure target of $80 looks reachable as part of the (still in play) November 28th ascending triple top breakout. MECA : Climbs back above the 50-day MA on a PPO 'Buy' signal. Confirmed support at $7.00, run a stop on a loss of $6.84 HTLD : Low liquidty gives way to wide intraday swings. If it can hold the break of $21.35 into the close it will have merits. Weekly chart shows some nice basing action. GGG : Shaping a bullish flag with confirmed support at $37.70. The weekly chart shows a confirmed double bottom at $31.03/$30.88 following the weekly close above $38. $

I raised the stop following Friday's selling and today that stop took the position out for a small gain ($320 on 1,000 shares). I have added a new stock to replace it, but the majority of the portfolio remains in cash. It should be noted the newsletter pick holds a lower stop of $9.28 and remains in play; this is simply a stop hit for my managed portfolio. Click the link below to get these trade signals in real-time

Just to get this out before the market closes;