Free stock picks for 11/16/2010
LONG:
CMI Fundamental Relative price change and consistency is very high (positive). Earnings growth in the past year has accelerated rapidly compared to earnings growth in the past three years (positive). The most recent quarterly earnings report was slightly lower than analysts’ consensus forecast (neutral) Technical CMI forming daily cup and handle pattern. Generally still holding highs and have room for run to $100 number resistance area. I will watch for that possibility if we wont see some big market reversal.
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AVP Fundamental Earnings growth in the past year has accelerated moderately compared to earnings growth in the past three years (positive). Relative price change and consistency is high (positive). The most recent quarterly earnings report was significantly lower than analysts' consensus forecast (negative). Technical AVP support holding for now and after 60 min consolidation at high AVP trying to bounce. Monday range action at highs suggest for buying continuation. Monday range is good for trading plan because after rest we always expect to see action. .
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SHORT:
DTV DTV was on Monday watch list too and in the trading room we took it. But it is still valid for swing trade and because of that it is again on list. In case that anyone didn’t took it and still like it on the chart is trading plan.
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EAT Fundamental Relative price change and consistency is very high (positive). Earnings growth in the past year has accelerated rapidly compared to earnings growth in the past three years (positive). Previous day's closing price for EAT was close to its 50-day moving average (neutral). Technical EAT reached weekly 200sma resistance area after strong pull back. Now I will look for selling continuation based on triangle continuation pattern. Under $18.50 we want see that volume and pace will increase
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Watch ideas:
Long 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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