Free stock picks for 11/18/2010
LONG:
JDSU Fundamental Earnings growth in the past year has accelerated moderately compared to earnings growth in the past three years. The price-to-sales multiple is slightly higher than the average. Negative for small company like JDSU.
Technical Main idea is daily bull flag and bounce to previous weekly/monthly high. I don’t expect position action there, just few days swing is maximum.
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CY Fundamental Earnings growth in the past year has accelerated moderately compared to earnings growth in the past three years. Previous day's closing price for CY was significantly above its 50-day moving average. The price-to-sales multiple is significantly higher than the average. That is negative for small company like CY.
Technical CY consolidate at high and next try for up continuation will be third try and I will look for bounce from 10sma daily. Wednesday range is small and with daily triangle we can look another daily buying wave.
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VRSK
Technical At this moment VRSK hold better then market and on the 60 min time frame we can see nice consolidation under 30.60 area what suggest for break up and buying continuation. VSRK have room for another swing up move and that will be focus.
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SHORT:
MCHP Fundamental Earnings growth in the past year has accelerated rapidly compared to earnings growth in the past three years. Shares are neither being accumulated heavily nor sold heavily by financial institutions.
Technical MCHP consolidate above 20sma daily and right now I will look for possible break down and selling continuation. For now focus is more for day trade.
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SWI
Technical I like weekly bear flag and daily continuation pattern for Thursday datrade possibility. But if that wont happen I will continue to watch weekly chart for selling continuation.
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Watch 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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