Free stock picks for 11/11/2010
LONG:
TWC Fundamental
Financial data in U.S. dollars Technical TWC holding gap on daily time frame and consolidate for another buying wave. I will use daily/60 min range for long opportunity. Since TWC reached all time high, next resistance is number resistance and it is $65, $70 etc.
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DIOD Fundamental Previous day's closing price for DIOD was significantly above its 50-day moving average. The measure of relative price change and consistency is very high.
Technical I like 60 min consolidation (triangle) at high and if market will hold I believe that DIOD has room for another breakup to $25 area.
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SHORT:
WIT Fundamental Earnings growth in the past year has accelerated moderately compared to earnings growth in the past three years. The price-to-earnings multiple is higher than the average.
Technical After strong pull back (21/10/2010) WIT started to form daily flag pattern. Wednesday brought range day and I will use it for possible flag setup and selling continuation.
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TYL Fundamental The ratio of TYL's price-to-earnings multiple to its five-year growth rate is about the same or slightly above the average of all stocks. The most recent quarterly earnings report was slightly lower than analysts’ consensus forecast.
Technical Very similar situation as WIT chart. After gap down we can see flag consolidation and Wednesday range day. I will use Wednesday range for swing possibility and selling continuation.
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Watch ideas:
Long ideas:
Short ideas:
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TRADING THE OPEN
During normal market conditions our regular setups generally do very well regardless what time they are taken. Trading right at the open always adds risk. During this low volume choppy market of the summer this risk is more pronounced. It is recommended that new trades not be taken for the first 5 minutes the market is open. I will treat each new trade that sets up during this time as a gap trade and wait till the stock comes back and takes out its 10 minute high or low.
Trading is risky. It is our job as traders to reduce this risk and increase our chances of success.
IMPORTANT: Take only the opportunities that you really like and understand. Always enter a trade with a trading plan. If you have any questions, please feel free to ask me. There is a much greater chance of success in your trading if you understand the trade. That is very important. Taking just a few trades is enough to be a successful trader. Overtrading is probably the number one reason new traders fail. I personally mostly take swing trades. Please remember to keep that in mind!!!!!!!!!!!!!!!
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If you have any questions, please feel free to contact me.
Good luck trading today!!!!
Ivica Juracic
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