Tuesday, October 24, 2006
Daily Stock Picks
Bottoming -
Oct 23 for July 24:
RDYN UFPI WTFC
(Stocks making a 52
WK low but closing higher than they opened)
Oversold Stocks -
Oct 23 for July 24:
BPOP COMS CTDC FLML NVLS PSUN UCTT
(Stocks closing higher than they opened, crossing up through their 25
Stochastic level, and on 150% + greater than average 6 month volume)
Overreaction -
Oct 23 for July 24:
RDYN
(Potential Bullish
Bounce: Stocks making a 52 WK low and moving down 10% or more in one day)
More... Stock Picks Page #1
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Daily Stock Picks
Bottoming -
Oct 20 for Oct 23:
SCKT SFUN
(Stocks making a 52
WK low but closing higher than they opened)
Oversold Stocks -
Oct 20 for Oct 23:
ASML RBAK
(Stocks closing higher than they opened, crossing up through their 25
Stochastic level, and on 150% + greater than average 6 month volume)
Overreaction -
Oct 20 for Oct 23:
GHM STMP
(Potential Bullish
Bounce: Stocks making a 52 WK low and moving down 10% or more in one day)
More... Stock Picks Page #1
Bullish Reversal Triggers
Reversal bars
are an objective technique used to time the entry of a trade. Read More... http://daily-stocks.netfirms.com/daily-trading-triggers.htm
Trading Ideas &
Picks
The QQQQ Report for October 23rd -
October 27th, 2006
QQQQ:
Negative earnings from companies such as Advanced Micro Devices and SanDisk
caused some traders to believe that a test of the trendline would be likely,
but positive results from Apple Computer, eBay and Google helped counterbalance
the results and keep the bears from pushing the index lower. It will be
interesting to see how the earnings ahead will affect the QQQQ and we'll
continue to watch the ascending trendline to see if it will affect the index's
short-term direction...
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NASDAQ Chart of the Day
NUVO
is winding up within the boundaries of a large triangle pattern that has continued
to develop over the last two months. A breakout from this pattern should spark
key movement. Watch 19.75 up, and 18.50 down.
Daily Trading Signals
Technical Indicators
CCT Bollinger Bands
Histogram
The CCT Bollinger Band Oscillator, reconfigures John Bollinger's
classic Bollinger Bands (envelopes plotted at two Standard Deviations above and
below a moving average) by drawing two parallel lines replacing the erratic
envelopes.
The parallel lines represent a measurement of two Standard Deviations from the
mean and are assigned a value of zero and 100 on the chart. The indicator
represents the price as it travels above and below the mean (50%) and outside
the two standard deviations (zero and 100). Penetration of the upper band
represents overbought conditions while penetration of the lower band signifies
oversold conditions.
Usage of the CCT Bollinger Band Oscillator to identify "failure
swings" and "divergences" can lead to significant reversals...
Read More...
NYSE Chart of the Day
IKN
is holding firmly beneath major resistance at 14.36, which has held since
April. Look for weakness to occur from this level, unless a breakout is seen.
Daily Trading Signals
Trading Education
Tutorial
Consolidations
Sideways
Movement Gives Indication of Future Price Direction
A consolidation is a place where buyers and sellers are very closely matched in
numbers. As the battle ensues, others notice that the market is consolidating,
and begin considering to get on board. As soon as a break from the
consolidation occurs, the latent buyers or sellers usually begin taking positions.
Read
More...
Daily Market Commentary
Updated Monday, 10/23 for Tuesday's market.
|
Key DOW Levels for 10/24
|
|
UP
|
Above 12,150
|
|
DN
|
Below 12,000
|
Steady Rally...
- Dow rallies above 12,000, closes at all-time highs. The index
held at the highs throughout the session and recorded a solid 115 point gain
for the session.
- The NASDAQ and S&P each rallied solidly to begin the day. Look for
continued overall strength, unless key near-term support levels are violated.
Summary
The Dow closed the day at the highs of the session after rallying big to begin
the day. The index is now holding at the highs of the session and could build
out the tight consolidation for another rally soon. Watch for continued
strength, unless 12,050 is violated.
Read More...
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