Wednesday’s Top Stocks From TradersWire

January 4, 2005
Tsutae Kamada

This is the fourth
consecutive losing session for Nasdaq-100 Index. It decisively broke
down below a trading range on heavy volume. Although it looks so bearish, the
index has managed to close above the 50-day EMA. Notice, the 161.8% projection
level is right below the EMA. Diamonds Trust (DIA) lost nearly 1% of its
value, but it held above a support line.

Look at the weekly chart of Semiconductor Sector Index below. It slipped
below an extended bear flag after failing to take out the 50% retracement level.

Now, three stocks for Wednesday:

Korn/Ferry International (KFY): The stock formed a bullish tail at a
support line. Long KFY if it takes out 20. The initial target is 21. Risk
0.35-0.50.

Citrix Systems (CTXS): The issue tested a horizontal support line and
formed a mildly bullish tail. Long CTXS if it moves above 24.40. Target is near
25.50.Risk 0.35-0.50.