Two gold mining stocks which have suffered a swathe of selling, but are now trading around what should be decent support (200-day MA) on oversold stochastics. Gold bugs will be looking to add in the face of the final upleg for Gold (still to come I think). Value Gold

Although markets lost even more ground, there was actually greater strength to be found in stocks (as per my Trade Ideas scan). The following selection of stocks covered 2 hours of the software. The most frequent stock to appear on the list was FSH ( 10 ), then came WEBX ( 4 ) and LAMR ( 4 ). The best buying opportunities on a risk:reward basis look to be PPDI and LAMR . PPDI : Run a stop on a loss of $35.16 and look for a move to $41 . LAMR pulled back to trendline support (and the 20-day MA). Stops on a loss of $55.85 for a price target of $75 . Trade Ideas If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.

The relentless selling continues. The good news is markets are close to a decent intermediate term bottom. The easiest way to spot this is to look at the performance of the following indicators: NASDAQ Bullish percents ( $BPCOMPQ ), NASDAQ Summation Index ( $NASI ) and NASDAQ stocks over the 50-day MA ( $NAA50 ). These indicators are excellent measures in isolating bottoms in the NASDAQ (and for the market as a whole). They tend to lag a little in tops; these indicators peaked at the start of February (2006) which was an ideal sell for the NASDAQ , NASDAQ 100 and SOX , but was too early for the Dow , S&P and Russell 2000 which peaked last week. The table below provides the performance of my newsletter picks in the months after a bottom occurred in these indicators. The stocks are drawn from my "Breakout" and "Subscriber [$]" lists. The " % Win " represents the proportion of stocks for that month which closed profitable. The " % gain/trade &qu

Two early attempts to fish for a bottom were stopped out. Both closed for small losses leaving two candidates still "in the money". The first stop out, COST , never got the kick I was looking for off the 50-day MA. It tested $53 support today; another potential buying area - but there was no real signs of strong demand here either. The 200 share lot closed for a -$346 loss ( -3.1% ). The second knock out was ACN . This stock crashed through its 200-day MA (one of the reasons for the entry), closing below support. The 300 share lot closed for a -$141 loss ( -1.6% ).

If Tuesday was bad, Wednesday was worse. The following eight stocks covered the best part of the day . It will be interesting to see how these perform next week. Top of the frequency list was FSH at 9 , then CXW at 8 , BUD at 6 and YUM at 5 . Trade Ideas If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.

As I have had a clear out in the portfolio I am offering membership at a special discounted rate of $19.95 for this month only . Subscribers are billed in profitable months only . Click here to sign up. Please note, this is not a subscription to my newsletter but to my trading portfolio (a newsletter subscription can be made by purchasing a subscription period in the right-hand margin).

The market took an extra day breather which left only a handful of stocks on the Trade Ideas scan. The 8 stocks for Wednesday covered a 53 minute time period of the scan; the most frequent was KFT which featured 7 times, PFGC and NCC were next up on 4 times and CNA at 3 times. Unfortuntately, GFIG was a thorn in my side given it stopped out yesterday from a newsletter play, only to push up 6% today. Trade Ideas If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.