My new consolidation scan only turned up two candidates: ZRAN, DV. The first, you will see, is a bust (the scan goes on prior day's data - so today's big sell off is would not be detected by the scan). The second, DV, has some merits - particularly as price is sitting right on the 20-day MA. The remaining six picks are from my original Trade-Ideas scan, which has performed very well to-date. ZRAN : Down big on the day, and not a recommendation at this stage. 50-day MA may provide some support - but I wouldn't bet on it. This scan still needs tinkering. Weekly chart was looking good, still time for it to recover - but the gap will create suppy issues on any attempt to break $21. DV : The same scan as used to pick ZRAN, but a much nicer chart. Low volume consolidation which has allowed the 20-day MA to rise to greet it. Low risk with a stop 10 cents below today's low. Look for a $4 move (short term). Looks to be a preperation for a break of $24 (see weekly chart) - in whi

Friday's low volume, options expiration day, reversed most of Thursday's gains - leaving traders at a point of selling resistance in Tech markets, while bulls looked to capitalize on strength in the large caps [ Dow and S&P ]. The NASDAQ finished the week inside a two-month declining channel, negating Thursday's supposed breakout, but on a bullish reversal in all three supporting technical indicators (MACD, OBV, and slow stochastics). The NASDAQ 100 is clinging on to its resistance breakout, but not before logging a bearish distribution day. The semiconductor index took the biggest hit on Friday, and is again, lingering around 20-day MA support. Supporting Tech. secondary indicators [ $NASI , $NAA50 and $BPCOMPQ ] gained, but the $NASI ended the week shy of a bullish cross in the 5-day EMA. I can see another 'bad' long signal coming here; the $NAA50 is at levels associate with tops, not bottoms (or good buying levels). The Russell

Trade Ideas again took the honors on the week. All 8 picks were profitable; six of which returned 2% or more. The average Trade-Ideas return of 2.77%, outperformed the ETF average of 1.67%. JC followed up with a decent 1.35%, leaving myself, a laggard at 0.76%. Only the Trade-Ideas scan, and the ETFs recorded a 100% win percentage. For my next set of Trade Ideas picks, I will use my new scan as the primary stock picker, and make up the numbers with the original scan I have been using up 'til now. JC's picks taken from Madd Money . 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 would like to Subscribe to my newsletter you can do so by ordering monthly, 6-month, or annual membership from the 'Quantity' box in the right-hand-margin. If you would like to see Jim's picks you can tune into his TV show, or get them from Madd Money

Using the new channel parameters I defined yesterday, the scan picked up ACS. Yesterday's pick, OCN, also featured again. The chart does have a large tick error, but what is important, is the narrow trading channel, which shaped off the large breakout. Buy break of resistance, stops on a loss of support. Look for a move to $68. Affiliated Computer Services, Inc. provides business process and information technology outsourcing solutions to commercial and government clients. It operates through two segments, Commercial and Government. Commercial segment offers business process outsourcing services, including administration, human resources and related consulting, finance and accounting, customer care, and payment services. ACS

Market ETF's were once again the weeks winners, a very reasonable 1.62% return on 100% profitability. The Trade-Ideas scan followed with a 1.09% weekly return, but higher gains were hampered by the 6.79% loss in TMNG. JC and I both banked another loss; my picks were hampered by ADAM, which knocked the (more, or less) flat returns of the other picks. JC had a big loser in UPL (11.79%), and this was enough for him to finish in last place. JC's picks taken from Madd Money .

I am still working on a new scan using the Max/Min consolidation feature and associated percentages. So far, I have not gone with a select alert (just the heartbeat) as my window filter settings only turn up a few stocks a day. Current settings: Min Daily Volume: 100,000 Shares a day Min Volume Today: 110% Min up from 200day SMA: 1% Max up from 200day SMA: 50% Min up from 50day SMA: 1% Max up from 50day SMA: 10% Min consolidation: 7 days Max consolidation: 25 days Max position in Consolidation: 110% If you put these into the software for today, you get OCN Yesterday the scan pick would have been: LECO On Valentines: ISLE, LIN, LECO, NSIT, PH, VAR, DSU, CSQ OCN

Unfortunately, I messed up yesterday on JC'c picks. The picks I listed as his for Tuesday (i.e. Monday's show), were actually the picks which were to be used today. So these are the same Madd Money picks, which were featured on the February 7th show. I have listed the Market ETF's in place of the indices. The ETF's were the winner on the week, returning an average of 1.73%. This was closely followed by the Trade-Ideas selection. My own picks were a disaster - although the Subscriber picks at least did better than the three free Breakout picks. JC had the lowest win %, but his average loss was greater than my own stock picks.