Free stock picks for 11/23/2010
LONG:
STLD
Fundamental
Earnings growth in the past year has accelerated rapidly compared to earnings growth in the past three years. Previous day's closing price for STLD was slightly above its 50-day moving average. Two or more executives, board directors or major shareholders - including one high-level executive - sold a large number of shares recently (negative).
Technical
STLD conso0lidate on daily time frame and my interest is breakup and long continuation. I will move stop for swing trade with 20sma for start but that depends on pace and volume.
MHP
Fundamental
Earnings growth in the past year has accelerated moderately compared to earnings growth in the past three years. Relative price change and consistency is very high. The price-to-earnings multiple is lower than average.
Technical
After strong weekly upside move MHP pulled back to daily 50sma support area and formed small range pivot bar. I will look for bounce from support area in to 10-20sma resistance.
FL
Fundamental
Earnings growth in the past year has accelerated rapidly compared to earnings growth in the past three years. One or more analysts has significantly increased quarterly earnings estimates for FL. Shares are being heavily sold by financial institutions what is not good for large company like FL
Technical
FL formed consolidation day after strong bounce and daily bear trap. I won’t look for longer swing but for start I will look for day trade. Maybe can turn in to overnight trade but that depends on Tuesday action
Ivica Juracich trading style explanation: click here
________________________________________________
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!!!!!!!!!!!!!!!
_______________________________________________
If you have any questions, please feel free to contact me.
Good luck trading today!!!!
Ivica Juracic
Nema komentara:
Objavi komentar